The index has been in a strong uptrend since past few months however it has experienced some correction since early January, currently it stands at the support of the horizontal support line suggesting buying could be experienced near current levels. On 21st December the index had made a very significant “hammer” formation just below current levels. It would be prudent to say that the CAC-40 could rebound towards 5520 and 5600 if it sustains above 5350.
Technical Analysis Team
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