The Paris market continued its rebound, extending the momentum of its best session since the end of September. A feat made possible by the hope that the next American administration will be more lenient in imposing customs duties on imports.
Furthermore, the publication of the consumer price index (inflation) in line with forecasts in the euro zone has calmed investors, thus reinforcing the cautious and progressive strategy of the ECB in its process of normalization of interest rates. interest.
As a reminder, the key event of the week will be the publication, Friday at 2:30 p.m. (French time), of the monthly report on employment in the United States for the month of December. According to the FactSet consensus, 155,000 job creations are planned, including 140,000 in the private sector, with an unemployment rate expected at 4.2%.
During the bullish session of December 6, 7,985 contracts were opened on the Future CAC 40, demonstrating buying support. Furthermore, the Put/Call ratio reflects an optimistic sentiment.
On the future December
THE resistors are : 7534 or even 7610 then 7702 and 7766 or even 7872 then 7964.5 and 8044 or even 8182.5 then 8286 et 8553.
THE supports are : 7450 and 7407 or even 7346 Then 7282 then 7221 and 7184 even 7112 Then 6950 et 6756 even 6588 Then 6308.
Intraday, the trend is bullish above 7346.
Graphically, the Future CAC40 (See attached 14-Hour graph) maintains positive momentum. After an almost stable opening, the index exceeded the previous day’s high point at 7,463 points, thus confirming the signal of continuation of the upward movement initiated on Monday.
On the technical indicators side, the MACD histograms show positive momentum in the upper part of their evolution zone, while the RSI is approaching an overbought zone. In addition, volumes, above average, reinforce the bullish recovery.
Market sentiment therefore remains generally positive supported by an increase in volatility and volumes. However, a clear crossing and closing above key levels will be necessary to validate a short-term bullish revival with a target between 7600 and 7650 points.
A l’inversea decline below 7450 points would weaken the bullish recovery, with confirmation in the event of a break of 7409 points, and even more so if the alert zone located at 7360 points were to be depressed.
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