CAC40 Falls Slightly as Investors Await Central Bank Decisions
The French CAC40 index ended the day down 0.46%, finishing at 8,104 points. Traders are being very careful while they wait for the Federal Reserve meeting, the upcoming ECB decision, and the earnings of big U.S. tech companies.
Investors are also watching oil prices. Brent crude is up about 3% and is close to $112 per barrel. The price rise adds more pressure because the market is still worried about the situation in the Strait of Hormuz.
On the tech side, the Wall Street Journal says OpenAI missed its latest goals. This makes some people doubt huge AI investments, especially as rivals like Alphabet and Anthropic compete.
Future May Levels
Resistance points: 8,067; 8,093; 8,115; 8,153; 8,176; 8,237; 8,286; 8,332; 8,475; 8,652.5
Support points: 8,035; 7,984; 7,898; 7,815; 7,769; 7,718; 7,618; 7,566
In intraday trading, the market looks bearish when it stays below 8,124 points.
Current Chart Situation
At 2 p.m., the CAC40 future shows a neutral shape. It sits between a bullish gap from April 8 (roughly 7,989.5‑8,022 points) and the lower edge of a longer‑term upward channel around 8,195‑8,210 points.
If the index moves above this zone, a short‑term rally could start, but it would need to break the April 17 high of 8,365.5 points first. That would open the door to new highs.
Technical Indicators
The MACD histogram is near the bottom of its range, showing modest momentum. The RSI stays in a neutral area, and trading volume has dropped compared with last week.
A recent "Wolfe Wave" pattern suggests a possible downside move, but its impact is still small. If the April 8 gap falls below 7,989.5 points, the drop could reach the 7,640‑7,600 region. Intermediate supports at 7,873; 7,815; and 7,769 points might hold the market back.
Conclusion
We see the market stabilizing after a bounce, so we have lowered our overall exposure. However, we still add selective stocks when clear chart signals appear. A confirmed upward move would speed up buying, while a stronger pull‑back toward the Wolfe Wave target would make us trim positions.