CAC40: A short term correction toward 4200?
CAC40 had a great mechanical growth based on QE3 and the reform made by CAC40 companies.
My headline goal was 4506 and we did arrived to that level.
The market is trying hard to go above 45XX but without any succes. If the attempt was starting when CAC40 is at around 4400 and the W%R at the limit of oversold such as betwwen -80 to -60, then ,there would be an easy jump. Having in mind the tappering, without prejudice to ECB announcement on June 4th, There may be a correction on CAC40. This correction may start when CAC40 is coming bellow 4420, toward, 4350, then 4300 and 4200 as an initial downwar movement.
My headline goal was 4506 and we did arrived to that level.
The market is trying hard to go above 45XX but without any succes. If the attempt was starting when CAC40 is at around 4400 and the W%R at the limit of oversold such as betwwen -80 to -60, then ,there would be an easy jump. Having in mind the tappering, without prejudice to ECB announcement on June 4th, There may be a correction on CAC40. This correction may start when CAC40 is coming bellow 4420, toward, 4350, then 4300 and 4200 as an initial downwar movement.
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