Wednesday, July 29, 2009

France CAC 40 Index chart analysis

Weekly chart analysis of France's CAC 40 index (Weekly)
1) The bears are still there ..... lower highs pattern intact
2) Pay attention to that main trigger level (we need a clear weekly close above 3400.
3) Higher lows pattern (main reversal pattern)
Some see an inverted head and shoulder pattern (very bullish) ; I just see one thing ; failure to close "very soon" above 3400 could cause some serious damage
Like they say in France ; à bon entendeur .........

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