The CAC Index rose during the session on Tuesday, which is a bit ironic considering that Moody's downgraded the French credit rating after Monday's
The CAC Index rose during the session on Tuesday, which is a bit ironic considering that Moody’s downgraded the French credit rating after Monday’s trading in New York. In fact, this market is one of the largest gainers in Europe, and as such looks very strong.
We still see the €3500 level as massive resistance though, and as such we are not willing to buy at this level. With this being said, we think that resistive candles in that general vicinity could offer a nice selling opportunity though as the consolidation looks set to continue.
CAC 40 Futures Forecast November 21, 2012, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
