FRA40 – Les Ours Arrivent
FRA40 is dangerously Bearish and multiple signs are pointing towards the possibility of a deep contraction.
According to the current wave count, CAC40 is currently trading within an Intermediate Degree Complex Corrective Pattern, more exactly a Triple Three.
It seems to be used to developing such complex patterns, a previous case was back Aug 2017, when I posted the “CAC40 – Bullish Minor 5 – Triple Three Pattern” article, going Bullish for Minor 5 (light blue) of Intermediate (3) (green).
CAC40 – Daily Chart (picture)
CAC40 – Daily Interactive Chart Chart
Should the current Wave Count be the right one, then it could lead CAC40 towards a Bearish outcome, possibly towards 5000.00 Levels.
Technical Analysis and Bullet-points
- Ending Diagonal
- Bearish Divergence
- Fibonacci Extensions aligned with labels and degrees
- Complex Pattern possibly ending
- April Gap not filled
- Bearish Impulse expected
- Bearish Breach expected
CAC40 – 4H Chart (picture)
CAC40 – 4H Interactive Chart
CAC40 – SELL Position
- Entry @ 5645.00
- Invalidation @ 5750.00
- Targets @ 5500.00 / 5350.00 / 5225.00 / 5100.00
