CAC 40 At Crucial Support
Updated
CAC40 opened With massive Gapdown trapping all the bulls at higher level
This must have forced the small leveraged Trader to exit Their Position at the lower rates forcing the index downwards.
Index can Face Heavy Selling Pressure from tops
All the trapped brave Traders who didn't exit their position in today's fall will be waiting for their prices on the higher side.
So Sell on rise pattern could be seen in this index
CAC40 Is currently trading Below its 100 EMA at crucial Support Level of previous swing low.
Fresh Sell Off Can be Seen Below The swing low till 5720 Levels which is 200 EMA and 4th Decembers Low.
This must have forced the small leveraged Trader to exit Their Position at the lower rates forcing the index downwards.
Index can Face Heavy Selling Pressure from tops
All the trapped brave Traders who didn't exit their position in today's fall will be waiting for their prices on the higher side.
So Sell on rise pattern could be seen in this index
CAC40 Is currently trading Below its 100 EMA at crucial Support Level of previous swing low.
Fresh Sell Off Can be Seen Below The swing low till 5720 Levels which is 200 EMA and 4th Decembers Low.
Note
5420 Low :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.