After last week's massive selling pressure, the CAC is holding steady for now. the historic support, psychological round number factor, fib retrace key levels and ABCD pattern, all suggest that we should pay very close attention as to how the market does around this 4000 zone. This zone is really the do or die for this market, as if it breaks the downside...
Mid term uptrend line for CAC 40 had a convincing broke down on 8 July. Subsequent retest of the support-turned resistance line was not successful. Look out for ~4045 next week.
If the support is strong enough, a small retracement up is possible. Or Else price might break down of the channel bottom!
FRance is in a difficult polical and economic situation. Reforms needs to be done butthere isn't the necessary political will.
On the other hand, despite ECB's ABS that I do have mentioned many times, market would first correct and the initial signs are very much here.
Tenkan-Kijun Twist. This needs to be confirmed by 3 candles crossing the KUMO CLoud.
The Kumo...
Actually European economy is not at its brightest situation. If it was the case, ECB President Draghi would claim that ECB was ready to launch a european QE.
With th end of US QE3, the tappering, a possible increase of interest rate by US even though THIS WILL NOT OCCUR before 1Q15 at the earliest, a possible deflation in Europe, There is nothing yet to fuel the...
At the very moment, baring in mind of the timing, the economic outlook, CAC40 is facing a correction as forseen in my previous analysis.
We are in a double top formation with the neckline at 4100 and after a pull back, we may be at around 4050-3900. Bellow that level, it would be a change of trend. But there is still cheap money in the market particularECB...
CAC 40 Index has been engaging in a long term down trend since its all time TOP at Sept 2000.It made a lower high on June 2007.
The downtrend resistance line will be completely Valid if the price make another leg of internal high around 5100 depend on the time
From MACD point of view, i would love to see a divergence while CAC 40 make another higher high against...
As forseen since Mid June, CAC40 is in a correction process. There is no breaking news in the market, and the summer sell-off continues.
Therefore, the correction process may continue until 4100, bellow that leval and in particlar bellow 3850 it is rather a consolidation and a clear reversal of trend rather then a correction. If this happen, ECB would intervene...
We are in a bullish rally from the past years, and whenever it crosses a support, the panic comes, you know what happens when a trend is broken, it follows a new trend to the opposite direction.
What happens when a diagonal trend is broken in the case of a long bullish rally here? Well, you expect a major correction or crash. But is it really the time for it for...
Looks like major correction is on its way. We have turned below MA65 with big red candles. MACD is also turning to negative levels and RSI have been falling sharply lower.
200 EMA is controlling like support line from 3rd of July 2013, so price will go up I'm expecting 4360. And if we will change to weekly shedule we will see that price at the 50EMA - and this is support line from 30th of July 2012.
200 EMA is controlling like support line from 3rd of July 2013, so price will go up I'm expecting 4360. And if we will change to weekly shedule we will see that price at the 50EMA - and this is support line from 30th of July 2012.
CAC has faced a normal correction phase until 4280. At that level, indicators show clearly that we are at an oversold level.
Bare in mind that ECB may be able to announce an ABS with an amount and a timing.
Therefore the second correction phase may slow down. Initialy the first correction was at around 4350 and the second one at 4180.
Because we are at an...
