Technical picture of Credit Agricole SA

Credit Agricole is in a consolidation in a downtrend on the weekly chart. The consolidation has already run quite far. I wouldn't touch this on the long side until the upper falling trend-line is broken.




Zooming in to the daily chart reveals that the consolidation's up-trend has already been broken but price jumped back up last Friday and today to reclaim levels above the line.



Overall, I would interpret this as indecisiveness on the daily chart. In a healthy downtrend, the broken trend-line should have acted as resistance to trigger a continuation to the downside.

*All ideas presented here are my personal opinions and not investment advice. Take responsibility for your own risks!

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