France 40 (FR40EUR) Continues to Consolidate Between Levels 4800 and 5200

Estimated Reading Time: 2 minutes

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Azeez Mustapha

Updated: 13 October 2022

Key Resistance Zones: 5900, 6000, 6100
Key Support Zones: 5400, 5300, 5200

France 40 (FR40EUR) Long-term Trend: Ranging
FR40EUR index is in a sideways trend. The index is currently fluctuating between levels 4800 and 5200. The price is now rising toward the resistance level at level 5200. The uptrend will continue if price breaks above the resistance line. The range-bound levels are yet to be broken.

Daily Chart Indicators Reading:
The index is currently at level 57 of the Relative Strength Index period 14. It is in an uptrend zone and above the centerline 50. The 21-day SMA and the 50-day SMA are sloping sideways indicating sideways trend.

France 40 (FR40EUR) Medium-term Trend: Ranging
On the 4- hour chart, the index is in an upward move to the upper price range. The price is rising and approaching level 5050. France 40 is fluctuating in the middle of the price range.

4-hour Chart Indicators Reading
The index is currently above 80% range of the daily stochastic. The index is in a bullish momentum and it is in the overbought region of the market. The moving averages are still sloping sideways indicating the sideways market.

General Outlook for France 40 (FR40EUR)
FR40EUR is in a sideways move but it is rising and approaching the high of 5200. The index is also trading marginally. The range-bound levels are also unbroken.

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