France 40 index reaches new high

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Since the start of October, the France 40 index had been surging in a channel up pattern. Most recently, the rate passed resistance of the 7,000.00 level and a resistance zone at 7,070.00/7,081.00. On Friday, November 15, the index reached above the 7,100.00 level.

In the case that the index continues to move higher, it could find resistance in round price levels. However, note that the surge should be slowed down by the upper trend line of the channel up pattern.

On the other hand, a decline could look for support first in the 7,070.00/7,081.00 zone and afterwards the 7,000.00 level.
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