CAC forecast for the week of August 17, 2015, Technical Analysis

The Parisian index fell rather hard from the €5200 level during the course of the week, slamming through the €5000 level. However, there is still plenty of support just below, so if we can form some type of supportive candle in order to start buying again. It is the end of the summer vacation season, so sooner or later we will start buying but we need to see a supportive weekly candle in order to do so. The next week or two might be more or less a slow grind lower.