The CAC 40 fell 3% today and is trading around 4,600 pts - level not seen since end of May amid concerns about a resurgence in COVID-19 across Europe. President Emmanuel Macron will give a televised address on Wednesday evening, at which he is expected to announce a one-month lockdown. Schools could remain open even as restrictions on people's movements become more severe, according to BFM TV. Yesterday France reported 523 deaths, the most since April 22nd. Hospital admissions increased by 1,194 to 18,978, the highest since April 2nd and the number of patients in intensive care rose by 148 to 2,918, the biggest since early May.
Meanwhile a new record daily rise in coronavirus cases was recorded in Germany; Greece; Czech Republic and Poland.
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FRA40 – yesterday index broke below the lower limit of the triangle formation and is currently testing major support at 4580 pts. If sellers manage break below it, then further downward impulse towards support at 4320 pts could be launched. On the other hand, once buyers regain control, the nearest resistance lies at 4676 pts. Source: xStation5
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