CAC Forecast August 17, 2015, Technical Analysis
The Parisian index initially tried to rally during the course of the session on Friday, but turned back around to form a negative candle. The €5000 level offered far too much resistance, and as a result it appears that we are going to grind a little bit lower. We do think that there is more support below though, so we are waiting to see if we get some type of supportive candle to start buying. We recognize that there could be a lot of choppiness, but at the end of the day short-term charts will probably have to be used in order to place long positions.