Key level to watch on the French CAC 40

FX:FRA40   CAC 40 Index
122 0 5
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.
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