CAC 40 Futures Forecast October 23, 2012, Technical Analysis

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The CAC futures fell significantly during the Monday session, breaking the bottom of two previous hammers that signals significant weakness in this market. Because of this, we think that we are going to continue in the recent consolidation area as are simply nothing to push the markets in either direction.

Because of this, we think there is a trade if you’re willing to short this market and aim for roughly 100 points. We don’t necessarily think this market about of meltdown, but rather just return to roughly the 3350 level. As for going long, we need to break above the 3600 level in order to consider it.

CAC 40 Futures Forecast October 23, 2012, Technical Analysis

CAC 40 Futures Forecast October 23, 2012, Technical Analysis

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About:FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

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