CAC40/FRA40 cfd Key Resistance: 7,725
- Daily Close Above: Potential bullish trend establishing, targeting around 7,900.
- Failure to Close Above: Potential sliding back, testing key support at 7,464.
DAX Key Resistance: 18,630
- Daily Close Above: Continuation of uptrend, testing all-time highs around 18,893.
- Failure to Close Above: Potential range-bound movement between 18,000 and 18,500
GER40 cfd: key resistance: 18,652
CAC 40. Following the French election Sunday is once again testing key strong resistance at 7,725.
A daily close above is needed for CAC 40 to establish a bullish trend and demolish the current bearish trend with upside potential to around 7,900.
If CAC 40 fails to close above 7,725, the index is likely to slide back lower, possibly testing key support at 7,464. A daily close below this level will resume the bearish trend with no strong support until around 7,300.
The strength indicator RSI is still showing negative sentiment and needs to close above the 60 threshold. The divergence back in June indicated downtrend exhaustion, but that will be reversed, i.e., the downtrend will resume if CAC 40 closes below 7,464, which is likely to result in RSI closing back below the 40 threshold