France 40 (FR40EUR) Is Range-Bound, Fluctuates in the Middle of Price Range

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

France 40 (FR40EUR) Long-term Trend: Ranging
France 40 index is in a range bound move. The index is currently fluctuating between levels 4800 and 5200. Since June, the market is yet to trend; rather the price now consolidates in the middle of price range. The price action is characterized by small body candlesticks.

Daily Chart Indicators Reading:
The index is currently at level 51 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 a sideways move. The price is also fluctuating between levels 4850 and 5200. The market is in a choppy price action. The resistance and the support level cannot be determined easily.

4-hour Chart Indicators Reading
The index is currently below 80% range of the daily stochastic. The index is in a bearish momentum. The moving averages are still sloping horizontally indicating the sideways trend.

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 not trending as the keys levels of the market remains unbroken. The market remains clustered and choppy.


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