France 40 index remains at 6,500.00

Source: Dukascopy Bank SA


Since the last review that was conducted on March 15, the France top 40 stock index has been trading between the support zone at 6,387.00/6,470.00 and resistance at 6,787.00/6,830.00. In the meantime, by April 14 the index appeared to be ignoring the 23.60% Fibonacci retracement level at 6,707.80 and the 50-day simple moving average near 6,625.00.

A potential surge of the stocks would have to pass the combination of the 6,787.00/6,830.00 and the 200-day simple moving average. Higher above, the rate is expected to encounter minor resistance in the 7,000.00 mark, before approaching the high level zone at 7,170.00/7,386.00.

On the other hand, a decline of the stocks is set to look for support at 6,387.00/6,470.00, prior to aiming at the March low level near 5,800.00.
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