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CAC

1 Jul 2021 ‚óŹ 06:15 AM

CAC is currently trading at a crucial juncture as it is hovering around the 40DEMA. If it closes below the 40DEMA then the correction can extend toward 23.6% retracement level of 6370 and closing below 6370 can drag the index lower towards the 38.2% retracement level of 6180. However, if CAC holds above the 40DEMA then the up move will keep witnessing extensions. Overall. the medium to long-term chart structure is bullish, till 5 waves are complete. In case, the correction gets extended, it will still be wave IV down, and once that is complete, one more leg of the up move should unfold in the form of Wave V 

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