CAC 40 (France) Elliott Wave Analysis Trading Lounge Day Chart
CAC 40 (France) Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Corrective
STRUCTURE: Gray wave 4
POSITION: Orange wave 1
DIRECTION NEXT HIGHER DEGREES: Gray wave 5
DETAILS: Gray wave 4 is still in play as a flat correction and nearing completion.
Wave Cancel Invalid Level: 7650.50
The CAC 40 Elliott Wave Analysis on the daily chart offers insights into the French stock market index, focusing on its current trend and potential future movements. This analysis identifies the ongoing trend as corrective, indicating the market is in a phase of consolidation rather than a strong directional movement.
The wave structure under analysis is gray wave 4, which is part of this corrective phase. The current position is orange wave 1, suggesting the market is in the early stages of a new wave sequence following the completion of previous waves.
The direction for the next higher degrees points to gray wave 5. This implies that after the completion of the current gray wave 4, the market is expected to enter an impulsive phase (gray wave 5), potentially leading to new highs or significant price movements.
Details indicate that gray wave 4 is still developing as a flat correction, a common type of corrective wave characterized by sideways price movements. This wave is nearing its end, suggesting a transition to the next wave phase is imminent.
The wave cancel invalid level is set at 7650.50. If the market price falls below this level, the current wave structure would be invalidated, requiring a reassessment and possible redefinition of the wave structure.
Summary: The CAC 40 daily chart analysis indicates the market is in a corrective phase with gray wave 4 still unfolding. The next anticipated phase is the impulsive gray wave 5. Traders should monitor the completion of gray wave 4 and prepare for gray wave 5, keeping an eye on the wave cancel invalid level at 7650.50. This analysis aids in predicting market movements and making informed trading decisions based on Elliott Wave principles.
CAC 40 (France) Elliott Wave Analysis Trading Lounge Weekly Chart
CAC 40 (France) Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Corrective
STRUCTURE: Gray wave 4
POSITION: Orange wave 1
DIRECTION NEXT HIGHER DEGREES: Gray wave 5
DETAILS: Gray wave 4 is still in play as a flat correction and nearing completion.
Wave Cancel Invalid Level: 7650.50
The CAC 40 Elliott Wave Analysis on the weekly chart provides a comprehensive view of the French stock market index, focusing on its current trend and expected movements. The analysis identifies the primary function as trend, suggesting significant movement patterns. The mode of this trend is corrective, indicating a period of consolidation or adjustment.
The wave structure under analysis is gray wave 4, part of the ongoing corrective phase. The position within this structure is orange wave 1, indicating the market is in the early stages of a new wave sequence following previous waves.
Looking ahead, the direction for the next higher degrees points to gray wave 5. Once gray wave 4 completes, the market is expected to enter an impulsive phase (gray wave 5), typically involving notable price movements or new highs.
Details describe gray wave 4 as forming a flat correction, a common Elliott Wave pattern characterized by sideways price movements, indicating a temporary pause or consolidation in the market trend. Gray wave 4 is nearing its end, suggesting a transition to the next wave phase is close.
The wave cancel invalid level is set at 7650.50. If the market price drops below this level, it would invalidate the current wave structure, necessitating a reassessment and possible redefinition of the analysis.
Summary: The CAC 40 weekly chart analysis reveals the market is in a corrective phase with gray wave 4 still unfolding. The next anticipated phase is the impulsive gray wave 5. Traders should monitor the completion of gray wave 4 and prepare for gray wave 5, keeping a close watch on the wave cancel invalid level at 7650.50. This analysis helps in predicting market movements and making informed trading decisions based on Elliott Wave principles.
Technical Analyst: Malik Awais
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