CAC Forecast November 16, 2015, Technical Analysis

The CAC fell during the course of the session on Friday, testing the €4750 level. That area has been supportive, so at this point in time it looks as if the market could bounce from here and continue to go higher. After all, we have recently broken out and now it looks as if we are trying to pull back to find support at the previous resistance barrier. We believe that European indices in general should continue to go higher, especially considering that the value the Euro is continuing to drop. With this, we are buyers in this general vicinity.