The CAC 40 Index futures did very little during the session on Monday, essentially standing still. We are at the very top of the recent consolidation
The CAC 40 Index futures did very little during the session on Monday, essentially standing still. We are at the very top of the recent consolidation area, and we saw a nice shooting star for the Friday candle that suggests that we may pullback from this area.
More than likely, this market will have trouble breaking above the €3600 level. We think it is more likely that this market will pull back to the €3500 level first, and as such we are willing to sell if we can break down below the lows from the Friday session.
CAC 40 Index Futures Forecast December 4, 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.
