CAC 40 Technical Analysis
The CAC in Paris is the first place I’m looking at. I like the way it’s behaving. I want to see if it can continue its march higher. It touched an all-time high. It looks like it wants to break even higher. We’ll have to wait and see, but as we start to close out the week, the closer we are to the very top of the candlestick or perhaps above the one from the previous session, the better we look, and at that point in time, I’m happy to get long of the CAC.
I do think that the European indices are some of the healthier-looking ones at the moment. Economic news coming out of Europe is better, although there is still the spectre of potential energy disruption coming this winter. We don’t know yet, and right now everybody’s pretty optimistic about the Middle East, so we’ll just have to wait and see. But the CAC is definitely a place I’m interested in.
DAX Technical Analysis
I’m almost just as interested in the DAX. We do have a little further to go to make a fresh high. I would like to buy this market either on a dip or a fresh high. I would prefer to buy a fresh high, truthfully. I’d like to buy strength, although I’m willing to take advantage of value if it does pull back a bit.
The DAX has been a leader for a while, but the fact that France is now right there with it also has we looking into some of the peripheral European indices as well. I like the DAX. The DAX is a good play for European exports. We’ll just have to wait and see how this plays out, but clearly recently it’s been very strong. It’ll be interesting to see if that can continue.
EUR/CHF Technical Analysis
The Euro against the Swiss Franc, I’m looking to buy this as we drift a little bit lower. I like the 0.93 level as potential support. We’re in an area where we are trying to break free. We did peak above a swing high from January.
This is a positive interest rate differential, which is something that I like as well, and it’s been a nice trend. We recently had the golden cross; I think that’s worth paying attention to as well. Longer-term traders like that, and this is one of those currency pairs that seems to behave like a long-term asset. It’s not a quick mover most of the time.
Copper Price Forecast
Every new Copper analysis as it publishes, today's technical signal and key levels, live price — on one page.
See all Copper forecastsCopper Technical Analysis
Copper, to me, looks very interesting towards the end of the day. I’ll be looking for some sign of a bounce that I can get long. Copper hit an all-time high just 24 hours ago. It’ll be interesting to see how it behaves heading into the weekend.
The longer-term picture for copper is very strong, though. There is a lot of demand in the electrification of the economy, and that of course demands a lot of copper. Ultimately, I think that this is one of those markets that it’s all but impossible for me to sell. I like the structure break. Now I’m going to find some value, try to get on the right-hand side of the V once we bounce.