France 40 (FR40EUR) Is Stuck in a Range, Unable to Break Key Levels

France 40 (FR40EUR) Is Stuck in a Range, Unable to Break Key Levels

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

France 40 (FR40EUR) Long-term Trend: Ranging
The index is still within the confined range. It is currently fluctuating between levels 4800 and 5200. The index is trading in the middle of price range. The price is not close to breaking any of the key levels. This will prolong the range-bound movement to a trending market.

FR40EUR – Daily Chart

Daily Chart Indicators Reading:
The index is currently at level 54 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 a sideways trend.

France 40 (FR40EUR) Medium-term Trend: Ranging
On the 4- hour chart, the index is in a sideways move. The price action is without a pattern. The price is consolidating in a tight range between levels 4850 and 5200. The market is in a choppy price action.

FR40EUR -4 Hour Chart

4-hour Chart Indicators Reading
The index is currently above the 40% range of the daily stochastic. The index is in a bullish momentum. The moving averages are still sloping upward indicating the bull market.

General Outlook for Italy France 40 (FR40EUR)
FR40EUR is in a sideways move but it is fluctuating in the middle of price range. The index is in a choppy price action. The key levels of the market remain intact.

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Author : Azeez Mustapha


Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.