The CAC 40 Index futures initially fell during the Wednesday session, but found enough support to bounce and formed a hammer at the very top of the
The CAC 40 Index futures initially fell during the Wednesday session, but found enough support to bounce and formed a hammer at the very top of the trading range. Because of this, we feel this market is signaling that is going even higher, and we cannot forget the fact that we broke above the €3600 level recently, which of course was a massive buy signal in our opinion.
Looking at this chart, it appears there is nothing to change that opinion, and it’s only a matter time before reach much higher levels. With this being said, we are adding to are already long position on a break of the highs from the Wednesday session.
CAC 40 Index Futures Forecast December 20, 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.
