Date of analysis 21 December 17
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INDICATOR
Opinion Short Term Positive
Resistance 1 7726.72PTS
Support 1 7344.37PTS
Opinion Mid Term Neutral
Support 2 7267.9PTS
Resistance 2 7803.19PTS
STRATEGY
Above 7344.37 PTS the major trend remains bullish. 7726.72 PTS and 7803.19 PTS are in the line of sight. The breaking of 7344.37 PTS would cancel this anticipation and favor a correction toward 7267.9 PTS.
SUMMARY
The MACD is positive and above its signal line. This configuration confirms the sound positioning of the index. We can see that the bullish potential of the RSI has not been exhausted. As for the Stochastics, they are in the overbought area, making a correction likely in the short term. The volumes traded are less than the average volumes over the last 10 days.
MOVEMENTS AND LEVELS
The index is in a phase of technical recovery. It is above its 50-day moving average but the latter is poorly positioned. In the event of a correction, the first support is at 7344.37 PTS, before a test of 7267.9 PTS in the case of a breach. To the upside, the resistance at 7726.72 PTS is intermediary before the strong level of 7803.19 PTS.