Date of analysis 20 December 17
Opinion Short Term Neutral
Resistance 1 3695.12PTS
Support 1 3488.9PTS
Opinion Mid Term Bearish
Support 2 3437.35PTS
Resistance 2 3746.67PTS
As long as 3437.35 PTS remains a support, the movement may join 3695.12 PTS over the short term. The breaking of 3437.35 PTS would invalidate this opinion and open the door for 3402.98 PTS.
The MACD is negative but is situated above its signal line: the trend is changing. Now, the MACD must clear zero for the rise to continue in the coming days. The RSI is above 50, this confirms the sound positioning of the index The Stochastics indicators are not giving any clear signals for the coming days. The volumes traded are more than the average volumes over the last 10 days.
MOVEMENTS AND LEVELS
Since the recent low at 3527.55 PTS the index has been in a phase of technical recovery towards its 50-day moving average located at 3599.99: the price reaction on this level will allow us to envisage a continuation of the movement in the medium term. To alleviate this position, we could wait to test the short-term resistances located at 3695.12 PTS and 3746.67 PTS. The supports are at 3488.9 PTS then at 3437.35 PTS .