CAC40 – Above its upward trend line, will you trade?
The CAC 40 index is trading above its upward trend line on a 30 minute time frame. The price is also trading above its 50 day moving average (shown in yellow) which is also behaving as a support. If the price breaks below the 50 day moving average it will confirm that the upward trend is losing its steam and a break of 100 day moving average (which is shown in red colour) will confirm that the bears have full control of the price and the bias is towards the downside.
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