CAC - Ahead of the French Elections




CAC - Ahead of the French Elections 
The CAC index may top out. Or so the current wave structure suggests. Remember after Brexit I was anticipating that European indices would top out at wave 1 of C shown on the chart. I did not expect wave C to extend into a long drawn 5 wave rise. We are now in the last legs of what should be a 5 wave rise in wave C that has achieved C=A*1.618 in terms of ratio at 5142. So this is a good level for completing this structure. We do need an actual price reversal below the wave IV low that can push weekly indicators into sell mode to confirm this scenario. 


Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic & international clients. Views expressed in this article are purely of the author - Mr Rohit Srivastava - a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd

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