CAC forecast for the week of March 4, 2013, Technical Analysis

The CAC had a fairly volatile week, as we touched not only the top of the recent consolidation at €3800, but also the bottom of the recent consolidation at €3600. With that being said, there was a little something for everybody as short-term trader certainly had a field day with this type of trading conditions. However, for those of you that choose to trade longer-term signals, this is not a marketplace is offering one right now. Granted, as long as you are above the €3600 level there’s a good chance that you can make a profit on the long side, but we do not have the technical set up yet. A pullback to 3600 with a supportive candle, we obviously would be okay with buying, just as we would on a breakout above the €3800 level.