Saturday, 11 August 2012

CAC-40- FRANCE- WEEKLY CHART ANALYSIS UPDATED WITH ELLIOT WAVE COUNTS AUG 10 2012

I am posting the analysis of the French Index CAC-40 which is starting to show some bullish signals after making a higher low and may be starting a climb toward the next important resistance level of 3600. A move above 3600 will confirm that a third wave may be unfolding with targets of 3800/900 at a minimum based on wave equality and then could possibly extend to levels of 4200/4300 in the coming months.However,if the index fails to hold the support at 3050/3100, the bullish stance will have to be cancelled.


















Merci Beacoup to our readers in France who requested for this analysis!

Mohan Raghav
CEO, Financial Markets Algorithms
Web: www.financialmarketsalgorithms.com
blog: fmatechnicals.blogspot.com/
Twitter: camohanraghav
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours

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