Wait for a correction to sell #CAC40

 #DAX30 weekly

Wait for a correction to sell #CAC40

Technical observation

Last week the commodity on the weekly chart above retraced to the supportive zone 11725.9-11619.0 and bounced within it. This week I expect possible bullish movements of this commodity towards the resistance line 13471.9 followed by a clear breakout above it. My advice, pick long positions now within the zone 11725.9-11619.0 with your take profit at 13471.9 and stop loss at 11122.2. In case there is a clear penetration above the key line 13471.9, I anticipate further bullish movements of this commodity. We can only expect bearish movements in case of a penetration below the zone 11725.9-11619.0.

Trade recommendation

Buy #DAX30 now within 11725.9-11619.0 with your take profit at 13471.9.

#ESTX50 weekly

Wait for a correction to sell #CAC40

Technical observation

After breaking above a zone it established around 3111.5-3083.9, #ESTX50 pulled back to the zone last week and was contained above it. Currently this commodity is trading within the zone and right now is the ideal time to pick long position with your take profit at 3674.0 and stop loss at 2912.7. However, should there be a clear breakout below the zone 3111.5-3083 with a big red candle, wait for a pullback to the just broken zone and a rejection within it to confirm possible bearish movements before you pick short positions with your take profit at the supportive level 2417.5 and stop loss at 3230.7.

Trade recommendation

Buy #ESTX50 now with your take profit at 3674.0.

#CAC40 weekly

Wait for a correction to sell #CAC40

Technical observation

The commodity on the weekly chart above broke above the zone 4959.7-4907.2, but was not contained above it. #CAC40 then broke below the same zone with a big red candle and right now, the value of this commodity is rallying with an increasing bearish momentum below it. However, I expect bullish movements to the just broken zone 4959.7-4907.2 followed by a bounce within it to pick short positions towards the key level 3927.0. Should there be a clear penetration below the supportive zone 3927.0-3877.0 with a big red candle further bearish momentum can be anticipated after a retracement.

Trade recommendation

Wait for a correction to 4959.7-4907.2 to sell #CAC40.

Imelda Maseno
Analyst of «FreshForex» company
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