CAC 40 (France)
Elliott Wave Analysis Trading Lounge Day Chart
CAC 40 (France) Elliott Wave Technical AnalysisTechnical Details
Analysis OverviewThe analysis focuses on the CAC 40 Index using Elliott Wave Theory on a daily chart, identifying a bearish trend. The market is currently in an impulsive mode, reflecting strong downward momentum.The primary wave structure under observation is gray wave 3, which began after the completion of gray wave 2. This marks the continuation of the bearish movement.The current position lies within orange wave 3, specifically in gray wave 3 of this structure. This phase signifies the intensification of the downward trend, with further declines expected before transitioning to gray wave 4, a corrective phase within the higher-degree structure.Key Level for InvalidationAn invalidation level is set at 7618.09. If the index rises to this level, the current wave count and bearish outlook will be invalidated. This level acts as a critical threshold for risk management and confirmation of the bearish impulsive phase.Summary
CAC 40 (France)
Elliott Wave Analysis Trading Lounge Weekly Chart
CAC 40 (France) Elliott Wave Technical AnalysisTechnical Details
Analysis OverviewThis analysis evaluates the CAC 40 Index using Elliott Wave Theory on a weekly chart, identifying a counter-trend phase. The market is currently in an impulsive mode within orange wave 3, signaling strong movement within the broader corrective structure.The progression follows the completion of orange wave 2, confirming the continuation of the current trend.The current position lies in navy blue wave C, which is a key component of orange wave 3. This phase represents the active development of the impulsive wave, with further downward movement expected before transitioning into orange wave 4, a corrective phase at a higher degree.Key Level for InvalidationAn invalidation level is set at 7618.09. If the index rises to this level, the current wave count and counter-trend outlook will be invalidated. This level serves as a critical point for risk management and confirmation of the counter-trend structure.Summary
Technical Analyst: Malik AwaisMore By This Author:
