The CAC 40 Index futures initially fell during the session in order to retest the €3600 level for support. The area did in fact hold true, and as a result
The CAC 40 Index futures initially fell during the session in order to retest the €3600 level for support. The area did in fact hold true, and as a result we bounced up during the session and formed a hammer at the very highs. This is an excellent bullish set up as far as we can tell, and as a result a break of the highs from the Tuesday session’s hammer would have us adding to an already long position. We see absolutely nothing to stop this market from hitting the €4000 level over the course of the next several weeks.
CAC 40 Index Futures Forecast December 19, 2012, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
