Sell French Stock Market Index
French Stock Market Index
For an extended duration of time now, almost 53 weeks now, The French Stock Market Index has been rallying within a falling wedge formation. Averagely , this index has been in a downtrend and could plummet even further, last week, Tuesday's candle sent it's tail towards the lower trend line but got rejected. The index then rose and is currently approaching the upper trend line acting as the resistance to to the falling wedge. I'm patiently waiting for a rejection from this trend line to short this index towards 4976.5
Short CAC40 now with a take profit at 4976.5.
Silver Buy Signal
As I said on the previous analysis, Silver rose tremendously but is currently approaching a key resistance line 17.72. This is a key daily resistance line and will require a great for to break above, thus, unless this line is clearly breached to the upper side with a big green candle, this commodity could get rejected from this line. From the previous data, this index has been in an uptrend, and bulls could still be in control, and if the price rise above 17.72, then I'll wait for a pullback to the just broken line to pick a long position towards 18.59
Wait for a breakout above 17.72 to buy Silver towards 18.59.
Platinum Buy Signal
Last week, Platinum broke out above a resistance line 987.40, retraced back to it but could not penetrate below. This was the first retracement to the just broken line, I'm waiting for a second retracement to this line to pick a long position with my take profit at the next resistance 1028.55. If this resistance is broken, then I'll wait for a retracement to the just broken line to pick a second buy trade with my take profit set at 1069.30. According to the daily chart above, long positions seems more ideal and can safely be recommended especially while the price is above
Wait and buy XPTUSD around 987.4 with you take profit at 1028.55.
Imelda MasenoAnalyst of «FreshForex» company