CAC 40 Index Futures Forecast December 14, 2012, Technical Analysis
The Parisian index had a soft session for the first time in over a week as the markets failed to hold gains, and in fact dropped enough to form a shooting star. This shooting star looks like it’s ready to pullback the market, but we believe that the €3600 level will continue to offer support. In fact, we are more than willing to start buying contracts as we approach the €3600 level.
This recent breakout is significant in our opinion, and as a result we want to take advantage of. Undoubtedly, there will be plenty of traders that missed the initial move that are more than willing to jump in at this point time. This will become more and truer the closer we get to the €3600 level as it was the point of the breakout.
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