CAC Forecast August 10, 2015, Technical Analysis

The Parisian index fell during the course of the session on Friday, but should find support somewhere below. After all, we have recently made a “higher high”, and that of course means that we are still technically in an uptrend. We believe that the market should go much higher, because the CAC has been such a strong performer. The gap below at the €5120 level could be supportive, but we definitely believe that the €5000 level should be supportive as well. Quite frankly, we are only buying this market going forward as we expect more strength coming out of France.