CAC40 Gains as Traders Watch Global Risks
Paris’s main stock index, the CAC40, finished the day higher. It rose 1.08% to 8,062.31 points with an average volume of €3.79 billion.
The market bounced back after a sharp fall yesterday, but the rise was modest. Traders are still nervous because fighting continues in the Middle East.
Even though a cease‑fire was announced in early April, both sides have resumed attacks. The U.S. operation “Project Freedom” in the Strait of Hormuz added more strain, and Iran’s drones have threatened the region.
Shipping companies reported that one vessel passed the strait safely, and the U.S. Central Command confirmed two merchant ships crossed without trouble.
Brent crude oil stayed near $113 a barrel, supported by the same tensions.
In Asian markets, the MSCI Asia‑Pacific index slipped 0.4% on lighter trading due to holidays.
Future May Contract Levels
Resistance points: 8,067; 8,093; 8,153.5; 8,209.5; 8,260.5; 8,332; 8,475; 8,652.5.
Support points: 8,008; 7,984; 7,961; 7,834; 7,719; 7,618; 7,540.5.
During the day, the market stays bullish above 7,914 points.
Technical View
On the weekly chart, the CAC40 is near the 50 % Fibonacci retracement level (7,956.30 points) of the last up‑trend that ran from 7,416 points (23 Mar) to 8,496.5 points (13 Apr). This level is important to watch.
To move away from risk, the index needs to break the May‑4 resistance at 8,099 points. That level also matches the crossing of the 20‑day and 200‑day moving averages on the 14‑hour data.
If the price stays above the long‑term upward channel around 8,210‑8,220 points for two or three sessions, it would confirm a stronger recovery.
Technical indicators show mixed signals: the MACD histogram is low, the RSI is neutral, and trading volume has risen compared with last week.
If the index falls back below Monday’s low, it could enter a consolidation phase. The next target would be the “Wolfe wave” around 7,600 points, with intermediate supports at 7,815; 7,769; and 7,718 points.
Bottom Line
Ongoing Middle‑East tensions keep oil prices steady and put pressure on stocks. We stay cautious, preferring lower exposure and protective strategies. Any further moves will depend on clear chart signals.
