mithianme

CAC40 Bearish (Downtrend)

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GLOBALPRIME:FRA40   CAC 40 Index
CAC40 has officially become bearish , I think that was pretty obvious two or three days ago. We've got a bearish divergence on the 1-day timeframe, not to mention the fact stoch and rsi is both topped out completely on 1 week and 1 month timeframe, I believe we could be seeing lows of 6300 points.

Due to the FED moving towards tapering it's possible there could be a tantrum within the market causing major indicies to crash.

4-hour timeframe H&S completed
30-minute timeframe bearish divergence
Descending Channel on countless timeframes (lower)

We're seeing most timeframes oversold though which is quite worrying, however, they seem to be building up due to it just hovering around so we'll see how the market plays out.

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