CAC40's was on an excessive level. Above 4506
, it is a very illusive and excessive level as far as I am concerned. YOu can clearly see on my previous studies that my headline goal was 4506
. I could have reviewed this level if ECB was clearly announcing a European QE
which will not yet be the case.
Having said that, on a purely technical aspect, the index may face a correction towards 4450 and even lower.
The rising wedge
pattern is very clear. And the break may come bellow 4480....