FRA40 has broken through the resistance line of a Channel Down technical chart pattern. Because we have seen it retrace from this position in the past, one should wait for confirmation of the breakout before trading. It has touched this line twice in the last 14 days and suggests a target line to be around 11.1398 within the next 21 hours.
FRA40 – breach of a trending resistance line that has been tested at least twice before.
