There is a three waves correction which has been working from the middle of March. It is a mature flow. It can reach the upper line of the rising corrective channel but it does NOT have to. I can imagine that the France stock index reaches the half correction level(4877) and after turning down.
So the correction in the fourth wave is mature and the upside momentum is getting weaker and weaker.
I am waiting for the reversal and the lower line of the channel could be a support for a while but after the real break the CAC should trade below new lows.
So the correction in the fourth wave is mature and the upside momentum is getting weaker and weaker.
I am waiting for the reversal and the lower line of the channel could be a support for a while but after the real break the CAC should trade below new lows.
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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.