Closing 11/01/11 ACC: 3862 (+1.58%)

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Net session bounce to the Paris bourse, with the CAC in greenfrom the start, and grow relatively steady throughoutthe meeting. Finally, ACC returns almost lost ground yesterday,and fills in passing its bearish gap between 3853 and 3865 (highest in3866.85).

But for some minor points, this gap will notbeen invalidated. Buyers will have to confirm their revival tomorrow form, even if they have already shown a nice dayaggressiveness, with 9 titles to more than 3.7% on the ACC and the volumeslargest recorded since the beginning of the year. However,ACC heavyweights have weighed a little on the index, which gives usgraphically bounce too shy to talkbullish recovery.

        So again tomorrow again 3865, and more generallyarea 3865/3870. Beyond this, the MM20 on 3880 should not pose tooproblems, and the ACC should be able to continue until thearea 3900, the last bastion before the resistance of light blue3920/3925. Above, the ACC will get rid of 3945 but thenof 3960/3965 before actually consider a phase of risingworthy of the name.

Still, as the gap from yesterday morning is not invalidated, ACC remains under pressure and may revise its testRecent lower level of the 3795/3800 area, evidenced bysmall medium blue. Below, the decline would be revived, even it will probably rely on the important area of 3775 ptslast defense before a probable slip direction of the obliqueviolet.

Also read:
Analysis ACC 10/01/11
ACC Outlook for 2011 – Part 1
ACC Outlook for 2011 – Part 2
    
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