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CAC declines from a technical resistance

FXStreet (Mumbai) - The French equity index, Cac, is trading down after the index failed to rise above the crucial technical resistance on the daily charts.

The Cac is trading 0.08% lower at 4077.50, after prices failed to breach the technical resistance at 4100 on the daily chart. Moreover, the index hit a high of 4098, just a shy away from 4100 levels. The market breadth is negative with an advance decline ratio of 18:21.

Among the index stocks, Beverage manufacturer Pernod Ricard is the top loser for the day so far, with the loss of 1.28%. Arcelor Mittal is trading down by 0.89%, while the French Oil major Total is trading down by 1%. Meanwhile, share prices of Valeo and Capgemini have gained 2.02% and 1.57% respectively.

CAC Technical levels

The index faces an immediate resistance at 4100-4110 levels, above which prices can rise to 4164 levels. On the other hand, a breach of the day’s low of 4063.5 shall open doors for a re-test of 4000 levels.

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