CAC40 INDEX - 1H - Technical analysis published on 02/02/2024 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
17%
72%
11%
My opinion
Bearish under 7,620.53 EUR
My targets
7,479.15 EUR (-1.44%)
7,382.89 EUR (-2.71%)
My analysis
The strong short-term decline in CAC40 INDEX calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 7,620.53 EUR, one could consider taking advantage of the short-term movement. The first bearish objective is located at 7,479.15 EUR. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 7,382.89 EUR as an objective. Crossing it would then enable sellers to target 7,281.10 EUR. Be careful, a return to above 7,620.53 EUR could jeopardize the reversal.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
2.1
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Additional analysis
Quotes
The CAC40 INDEX rating is 7,588.75 EUR. The price registered a decrease of -0.89% on the session and was traded between 7,570.07 EUR and 7,620.93 EUR over the period. The price is currently at +0.25% from its lowest and -0.42% from its highest.7,570.07
7,620.93
7,588.75
A bearish gap was detected at the opening by the Central Gaps scanner. There are a lot of sellers and they have the upper hand in the very short term.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this CAC40 INDEX chart shows a slightly bullish trend. 57.14% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently being given by short-term moving averages indicate that this slightly bullish trend could be reversed. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
Technical indicators are strongly bearish, suggesting that the price decline is expected to continue.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 7,382.89 | 7,479.15 | 7,577.00 | 7,588.75 | 7,620.53 | 7,702.95 |
| Change (%) | -2.71% | -1.44% | -0.15% | - | +0.42% | +1.50% |
| Change | -205.86 | -109.60 | -11.75 | - | +31.78 | +114.20 |
| Level | Major | Intermediate | Major | - | Minor | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,514.71 | 7,542.39 | 7,565.57 | 7,593.25 | 7,616.43 | 7,644.11 | 7,667.29 |
| Camarilla | 7,574.76 | 7,579.43 | 7,584.09 | 7,588.75 | 7,593.41 | 7,598.07 | 7,602.74 |
| Woodie | 7,512.46 | 7,541.27 | 7,563.32 | 7,592.13 | 7,614.18 | 7,642.99 | 7,665.04 |
| Fibonacci | 7,542.39 | 7,561.82 | 7,573.82 | 7,593.25 | 7,612.68 | 7,624.68 | 7,644.11 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,183.81 | 7,278.51 | 7,456.33 | 7,551.03 | 7,728.85 | 7,823.55 | 8,001.37 |
| Camarilla | 7,559.20 | 7,584.18 | 7,609.16 | 7,634.14 | 7,659.12 | 7,684.10 | 7,709.08 |
| Woodie | 7,225.36 | 7,299.29 | 7,497.88 | 7,571.81 | 7,770.40 | 7,844.33 | 8,042.92 |
| Fibonacci | 7,278.51 | 7,382.62 | 7,446.93 | 7,551.03 | 7,655.14 | 7,719.45 | 7,823.55 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6,969.07 | 7,125.08 | 7,390.92 | 7,546.93 | 7,812.77 | 7,968.78 | 8,234.62 |
| Camarilla | 7,540.74 | 7,579.41 | 7,618.08 | 7,656.75 | 7,695.42 | 7,734.09 | 7,772.76 |
| Woodie | 7,023.98 | 7,152.54 | 7,445.83 | 7,574.39 | 7,867.68 | 7,996.24 | 8,289.53 |
| Fibonacci | 7,125.08 | 7,286.23 | 7,385.79 | 7,546.93 | 7,708.08 | 7,807.64 | 7,968.78 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 36.94 | |
| MACD (12,26,9): | -11.3100 | |
| Directional Movement: | -19.92 | |
| AROON (14): | -85.71 | |
| DEMA (21): | 7,617.76 | |
| Parabolic SAR (0,02-0,02-0,2): | 7,651.37 | |
| Elder Ray (13): | -37.39 | |
| Super Trend (3,10): | 7,640.50 | |
| Zig ZAG (10): | 7,588.75 | |
| VORTEX (21): | 0.8600 | |
| Stochastique (14,3,5): | 11.65 | |
| TEMA (21): | 7,586.28 | |
| Williams %R (14): | -84.95 | |
| Chande Momentum Oscillator (20): | -104.24 | |
| Repulse (5,40,3): | -0.1700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 2.17 |
| MA7: | 7,588.25 | |
| MA20: | 7,469.84 | |
| MA50: | 7,454.37 | |
| MA100: | 7,264.08 | |
| MAexp7: | 7,602.10 | |
| MAexp20: | 7,625.34 | |
| MAexp50: | 7,602.83 | |
| MAexp100: | 7,551.68 | |
| Price / MA7: | +0.01% | |
| Price / MA20: | +1.59% | |
| Price / MA50: | +1.80% | |
| Price / MA100: | +4.47% | |
| Price / MAexp7: | -0.18% | |
| Price / MAexp20: | -0.48% | |
| Price / MAexp50: | -0.19% | |
| Price / MAexp100: | +0.49% |
Quotes :
-
15 min delayed data
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Euronext Indices
News
The latest news and videos published on CAC40 INDEX at the time of the analysis were as follows:
-
CAC Forecast January 18, 2023
-
CAC (France 40) Forecast January 13, 2023
-
CAC Forecast January 11, 2023
-
DAX and CAC Forecast July 15, 2022
-
DAX and CAC Forecast July 5, 2022
This member declared not having a position on this financial instrument or a related financial instrument.
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