France 40 (FR40EUR) Resumes Downtrend, Breaks Range-Bound Move

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 the price range. The price breaks below the support level and it resumes upward.

Daily Chart Indicators Reading:
The index is currently at level 41 of the Relative Strength Index period 14. It is in a downtrend 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 has broken the support level and resumed a downward move. The market is in a choppy price action.

4-hour Chart Indicators Reading
The index is currently below the 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 has resumed a downward move as it reached the low of 4690. The market has risen to level 4830. This upward move has taken the index to the overbought region of the market.


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