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DAX and CAC 40 Technical Outlook: Rally Viewed as Likely to Fail Soon


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DAX/CAC Technical Highlights:

  • DAX reclaimed broken support, but rally still not viewed as bullish
  • CAC 40 has trend-line resistance ahead to watch on further strength

DAX and CAC 40 Technical Outlook: Rally Viewed as Likely to Fail Soon

 

DAX and CAC 40 Technical Outlook: Rally Viewed as Likely to Fail Soon

 

DAX Daily Chart

 

Histogram  Description automatically generated with medium confidence

DAX Chart by TradingView

 

The CAC is trading around resistance in the 6k area, with a trend-line from the summer high lying not too far ahead. A turn down could find some initial support in the 5700s, but the low at 5628 is the big level to watch. Broad outlook is of course very similar to the DAX.

 

CAC Daily Chart

 

A picture containing bar chart  Description automatically generated

CAC 40 Chart by TradingView

 

Oct 6, 2022 | DailyFX
Paul Robinson, Strategist

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