CAC Forecast October 14, 2014, Technical Analysis
The Parisian index bounced after gapping lower during the Monday session, finding the 4040 level as been supportive. We think that there is a significant amount of support down at the €4000 handle as well, so it’s not surprising to see a little bit of a bounce from here. That being said though, this market certainly looks very soft at this moment. Because of this, we are looking to see if we get some type of resistant candle in order to start selling. If we get below the €4000 level, we feel that this market will break down longer-term as well.
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