L'oreal ...because it's not worth it!📌 So what are we trading here today?
Generally speaking, European Equities including CAC are under severe pressure and need a herioc sacrifice from ECB which is just not in play. Additionally we also have a fresh catalyst from the latest Macron stance triggering boycotting and prevention of L'Oreal products in Muslim countries.
There is a lack of defence below, so let us briefly cover the technical flows for the conflict. A breach under 280 will trigger the waterfall and wholesale unwinding. The key point here is to look for the next area of interest below which does not come into play till 240/235.
