We are flat with ##CAC40 | 19 May 2023
#CAC40 weekly
Technical observation
#CAC40 is pulling back to the resistance zone it established at 5782.7-5689.0 and I expect a possible rejection within the same zone followed by a surge to the upper side. My advice, remain flat and wait for a correction to the zone indicated above then buy a bounce within it with your take profit at 7587.1 and stop-loss at 5196.9. If the value of this index rises above the level 7587.1 with a big green candle, wait for a pullback to it before you continue long, however, should there be a clear breach below the zone 5782.7-5689.0, you can expect the value of #CAC40 to plummet towards the supportive level 3951.5 or lower.
Trade recommendation
Wait for a correction to the zone 5782.7-5689.0 to buy #CAC40.
#FTSE100 weekly
Technical observation
The index above rose to the resistance level 8042.1 then bounced at it and currently it is trading with an increasing bearish bias. This downwards movement is a correction to the supportive zone 6796.4-6721.7 and I expect a possible bounce within it followed by a rally to the upper side. My advice, remain neutral and wait for a pullback to the zone indicated above the buy a bounce within it with your take profit at 8042.1 and stop-loss at 6372.9, I expect a further surge to the upper side should there be a clear penetration above the level 8042.1, on the other hand, you can expect bearish movements in case of a clear break below the zone 6796.4-6721.7.
Trade recommendation
Remain neutral.
#NIKKEI weekly
Technical observation
Since it bounced within the resistance zone 25436-25126 the value of the commodity in the chart above has been trading with an increasing bullish bias and this week I expect a further surge to the upper side, if you are already holding bullish position, I recommend you remain in the trade with your take profit at 30800 and stop-loss at 22843. In case of a clear break above the level 30800 with a big green candle, wait for a correction and a rejection at it before you continue long with #NIKKEI, on the other hand, should there be a clear break below the zone I mentioned earlier, you can expect possible bearish movements towards 18999.
Trade recommendation
Remain long with your take profit at 30800.
