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.