CAC 40 : Slight correction in the face of trade tensions, but the trend remains bullish

( – The CAC 40 corrected slightly on Friday in the opening, losing -0.35% at the time of the writing of this article, after closing up 1.37% yesterday.

The concerns about the trade war China-USA weigh on the european stock markets, after China said, through media related to the government, that she was not interested to continue the negotiations in the current context, given the pressure exerted by Trump.

This therefore suggest that Trump will carry out its threat of taxing a new tranche of $ 300 billion of chinese imports.

The U.s. response in the face of these statements will therefore be to monitor today, and apart from that, investors will keep an eye on the inflation figures in Europe, at 11am.

At this stage of the day, it’s Worldline, which displays the highest increase of +0.67%, followed by Atos (PA:ATOS) to +0.45%, and Dassault systèmes (PA:DAST) to +0.22%.

For the largest declines, it is ArcelorMittal (AS:MT) who takes the head to -2.53%, followed by Valeo (PA:VLOF) -2.10% and Michelin (PA:MICP) to -1.71%.

From a technical point of view, it is to be noted that the correction shown this morning, is not sufficient to call into question the positive bias that dominates overall, since the beginning of the week.

However, it will be recalled that the upward movement yesterday, was stopped sharply by the moving average 200 hours, currently located at 5440 points, and which, associated to the vertices of yesterday at 5450 points, is a zone of resistance important in the short term.

Beyond that, the other resistors the closest are at 5500 points, 5540-50 points and 5600 points.

In the case of continued correction, 5400 points and 5350 points, where is the moving average 100 hours, will be the first media to monitor, prior to 5300 points and 5240-50 points.

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