CAC40. Toward a formation of a double TOP
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 policy. Therefore, after the end of the double top neckline and pull back movement, we may very much go up again, not until 4600 but at least over 4400 unless ECB is launching the ABS/R-LTRO
LEt's wait and see
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 policy. Therefore, after the end of the double top neckline and pull back movement, we may very much go up again, not until 4600 but at least over 4400 unless ECB is launching the ABS/R-LTRO
LEt's wait and see
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