SamKent

CAC Long Term Analysis

INDEX:CAC   CAC 40 Index
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After last week's massive selling pressure, the CAC is holding steady for now. the historic support, psychological round number factor, fib retrace key levels and ABCD pattern , all suggest that we should pay very close attention as to how the market does around this 4000 zone. This zone is really the do or die for this market, as if it breaks the downside potential could be massive. Alternatively, if we see some supportive candles we may have a buying opportunity just before the ECB starts pumping the liquidity into the markets.
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