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The CAC as you can see fell a bit during the session, but currently is sitting just underneath the recent highs. Because of this, we feel there is deftly a bullish tone to this market, but cannot buy quite yet until we clear the €4120 level on a daily close. That being said, we think that there is support below, so it makes sense of this market continues higher over the longer term. Nonetheless, we are on the sidelines until we get that trade signal, which of course we do not have quite yet. On the other hand, if we get a bit of a pullback, we think a supportive candle below would be a nice buying opportunity.
CAC Forecast September 13, 2013, Technical Analysis
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