andrew.berg
Short

CAC40 outside bearish week, expect continuation move next week

INDEX:CAC   CAC 40 Index
European indexes ended the week lower first time for the last two months — something to take notice. French index CAC40 was the worst performer, broke its accelerated trend line and closed below 8 EMA . It will be healthy to see some type of consolidation after the big move up with a potential intermidiate target at 4,264 where 50 EMA is situated. But first it should break down 21 EMA . If buyers want to continue to control price they will defence the break out point of 4,500.
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