The French CAC 40
is pulling back towards trendline
+ range support at 5,120/40 points today, and price action during the US session this afternoon should determine the market's trend for the rest of the week. A bullish
reaction on the support would suggest a bounce back up to the 5,260 handle while a break below 5,120 could validate a double top
. I'd prefer waiting to see a break below 5,100, however, before wanting to start targeting 5,040 and 5,000.