Revamp: CAC 40 target 4700? Pre-US GDP and Janet Yellen's speech
August 25, 2016
Hello folks, so I have mentioned several time the target of 4600 and 4666 regarding the CAC 40. I guess it will be made possible tomorrow Friday thanks to the GDP figure (rigged?) and the subsequent speech by Janet Yellen. However, regarding this week's erratic and incessant fights between bears and bulls to keep 4383 safe, I have set a new potential target that might change slightly the game. I finally understand why it took that much time: my original targets could have been wrong. But now ... after some tweaks, the real objective becomes:
CAC long until 4695-4700 is now a more than possible objective. I think there could be selling pressure from both 4600 and 4666. Then I would become extremely bearish and go short the crisis.
Here is a slightly messy picture from the CAC 40 (daily chart), but people who followed my previous articles would certainly understand what I wanted to pinpoint here.
Hello folks, so I have mentioned several time the target of 4600 and 4666 regarding the CAC 40. I guess it will be made possible tomorrow Friday thanks to the GDP figure (rigged?) and the subsequent speech by Janet Yellen. However, regarding this week's erratic and incessant fights between bears and bulls to keep 4383 safe, I have set a new potential target that might change slightly the game. I finally understand why it took that much time: my original targets could have been wrong. But now ... after some tweaks, the real objective becomes:
CAC long until 4695-4700 is now a more than possible objective. I think there could be selling pressure from both 4600 and 4666. Then I would become extremely bearish and go short the crisis.
Here is a slightly messy picture from the CAC 40 (daily chart), but people who followed my previous articles would certainly understand what I wanted to pinpoint here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.