False Breakout: CAC 40 bounced from 5008 support back to ranging area

Weekly price was bounced from 5008 key bullish reversal support  to eb back to Ichimoku cloud for now so the price is on ranging area of the chart for the waiting for the direction of the trend.

• Chinkou Span line is located to be near and below the price indicating the ranging condition to be continuing.
• 'Reversal' Senkou Span line  (which is the virtual border between the primary bullish and the primary bearish on the chart) is located near above the price which makes the bullish reversal to be very possible for this year for example.
• Absolute Strength indicator is estimating the bullish trend.
• The nearest resistance levels are 5008 and 5267.
• The nearest resistance levels are 4578 and 4226. 
  

If W1 price will break 5008 resistance level so the bullish trend will be started with the secondary ranging.
If W1 price will break 4578 support level on close W1 bar so we may see the reversal of the price movement to the primary bearish market condition.
If not so the price will be ranging within the levels.

Trend: