CAC40: The pull back process is still in place
Question? What wil lfuel the market?
As far as CAC40 is concerned, ECB's cheap money with low interest rate is still on the table with an all time low interest rate. LTRO's program has been reinforced with T-LTRO but despite this, there isn't yet the proper signal or believe from the market that things are good.
Therefore, unless there is a strong impetus given by central banks or Government, the pull back process is still going on.
On a purely chartist approach, One should carefully watch 4389 and 4325.
The red trend line show the correction process. Bellow 4180, it would be difficult to push up CAC.
Unless ECB announces the use of unconventional tools, the trend line should not be broken from the upside.
As far as CAC40 is concerned, ECB's cheap money with low interest rate is still on the table with an all time low interest rate. LTRO's program has been reinforced with T-LTRO but despite this, there isn't yet the proper signal or believe from the market that things are good.
Therefore, unless there is a strong impetus given by central banks or Government, the pull back process is still going on.
On a purely chartist approach, One should carefully watch 4389 and 4325.
The red trend line show the correction process. Bellow 4180, it would be difficult to push up CAC.
Unless ECB announces the use of unconventional tools, the trend line should not be broken from the upside.
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