{"id":23659,"date":"2022-03-14T06:12:00","date_gmt":"2022-03-14T06:12:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=23659"},"modified":"2022-03-14T11:04:15","modified_gmt":"2022-03-14T11:04:15","slug":"cac40-technical-analysis-channel-watch","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/cac40-technical-analysis-channel-watch\/","title":{"rendered":"CAC40 Technical Analysis – Channel Watch"},"content":{"rendered":"\t\t
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The CAC40 fell to its lowest trading level since April 2021 last week, however, a strong bounce-back above the 6,000 level sets up the prospect of an important low forming last week.<\/p>

Bulls have much work to do to safeguard the bullish case as the Ukraine crisis and general bearish headlines ahead of the week\u2019s main event, which is the FED rate decision.<\/p>

Do keep an eye on this meeting, because aside from the FED rate hike being a certainty, it certainly does have the potential to rock French stocks further, especially if we see more rate hikes forecast.<\/p>

For me, it is too early to call a bottom in the CAC40 index<\/a>. I think as traders we need to acknowledge last week\u2019s strong bounce but remain extremely wary of the fundamental backdrop.<\/p>

Looking at the ActivTrader Market Sentiment, we do need to be cautious as well, as some 71% of traders are bullish towards the leading French index. This is a worry for bottom pickers.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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I suspect the CAC40 will continue to head lower while sentiment towards the index remaining high. Typically, retail traders have poor market timing and miss out entirely or even lean against the prevailing market trend.<\/p>

Additionally, all major European indices are currently below their 200-day moving averages, so stocks are now in a bear market at current trading levels.<\/p>

CAC 40 Short-Term Technical Analysis<\/strong><\/p>

The four-hour time frame shows that a massive head and shoulders pattern has been activated, with the pattern pointing to more losses towards the 5,400 level.<\/p>

According to the strategy of trading these patterns, a sell signal is in place yet, but it is possible we could at least see a test towards the neckline of this pattern this week.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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CAC 40 Medium-Term Technical Analysis<\/strong><\/p>

Looking at the daily chart it continues to show plenty of scope for further upside, as a major test of a key trendline, from a rising price channel has taken place. And a bullish bounce is underway.<\/p>

The scope for further upside is possible towards the middle of the price channel all the time while the index remains inside the channel. Typically, these are bearish reversal patterns.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The CAC40 fell to its lowest trading level since April 2021 last week, however, a strong bounce-back above the 6,000 level sets up the prospect of an important low forming last week. Bulls have much work to do to safeguard the bullish case as the Ukraine crisis and general bearish headlines ahead of the week\u2019s […]<\/p>\n","protected":false},"author":4,"featured_media":23661,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[302,42,567],"yoast_head":"\nCAC40 Technical Analysis - Channel Watch - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/cac40-technical-analysis-channel-watch\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CAC40 Technical Analysis - Channel Watch CAC40 Technical Analysis - Channel Watch\" \/>\n<meta property=\"og:description\" content=\"The CAC40 fell to its lowest trading level since April 2021 last week, however, a strong bounce-back above the 6,000 level sets up the prospect of an important low forming last week.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/cac40-technical-analysis-channel-watch\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-14T06:12:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-14T11:04:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/03\/GettyImages-1382657373.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"416\" \/>\n\t<meta property=\"og:image:height\" content=\"416\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"CAC40 Technical Analysis - 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