France 40 index increases volatility during decline

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


During the first trading sessions of March, the France top 40 stock index plummeted, before finding support in the 5,800.00 mark and the support zone below it. Afterwards, a recovery occurred to the 6,400.00/6,470.00 zone. On March 15, the zone was holding and providing resistance. Meanwhile, the pair was ignoring the 38.20% Fibonacci retracement level of the 2022 high and the 2020 October low levels.

If the index resumes its decline, it could look for support in the 6,000.00 mark and the 50.00% Fibonacci retracement level at 5,950.00. Afterwards, the 5,683.50/5,800.00 zone might once again act as support. Further below, note the 61.80% Fibonacci retracement at 5,610.00 and the 2021 Low level at 5,375.00.

However, a recovery of the stocks would have to pass the 6,400.00/6,470.00 zone, before approaching the 23.60% Fibonacci retracement level at 6,710.00 and the 50 and 200-day simple moving averages.
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