France 40 (FR40EUR) Reaches the Overbought Region as Sellers May Likely Emerge


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

France 40 (FR40EUR) Long-term Trend: Bullish
France 40 is in an uptrend. The index is currently trading in an ascending channel. The market will rise but may soon reach the overbought region where sellers may reach. The uptrend may be short-lived.

FR40EUR – Daily Chart

Daily Chart Indicators Reading:
At the moment, the index has fallen to level 56 of the Relative Strength Index period 14. FR40EUR is still in the uptrend trend zone and above the centerline 50. The 21-day SMA and the 50-day SMA are sloping upward.

France 40 (FR40EUR) Medium-term Trend: Bullish
On the 4- hour chart, the index is in an uptrend. A correction candle tested the 0.786 Fibonacci retracement level. It indicates that the market will rise at a level of 1.272 Fibonacci level. France 40 index will reverse but will return to the retracement level 0.786 where it came.

FR40EUR – 4 Hour Chart

4-hour Chart Indicators Reading
France 40 is above 80% range of the daily stochastic. It implies that the index is in the overbought region of the market. Sellers will emerge to push prices down at the overbought region. Meanwhile, 21-day and 50-day SMA are sloping upward which indicates the uptrend.

General Outlook for Italy France 40 (FR40EUR)
FR40EUR is rising and approaching the high of level 5100. The stochastic is indicating that the index is in the overbought region. The upward move may soon come to an end



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