CAC, D1
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains just above its moving averages that are directed up. The RSI is testing from below its longer MA. The Composite is approaching its strong resistance.
CAC, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains just above its moving averages that are horizontal. The RSI is about to retest its most recent resistance. The Composite is falling and approaching its longer MA.
Key levels
Support levels: 5295.0 (local lows), 5265.0 (local lows), 5170.0 (June lows).
Resistance levels: 5435.0 (local highs), 5472.0 (May highs), 5525.0 (November highs).
Trading tips
The price bounced up, having retested its long-term ascending trendline. The growth is likely to continue.
Long positions can be opened from the level of 5435.0 with targets at 5472.0, 5525.0 and stop-loss at 5403.0.
Short positions can be opened from the level of 5265.0 with the target at 5170.0 and stop-loss at 5295.0.