CAC 40 future: Rallies not ruled out - Natixis

According to Micaella Feldstein, Research Analyst at Natixis, rallies are not ruled out for CAC 40 future but only a break above 5264 (daily parabolic) would negate the daily bearish channel, paving the way for a sustained recovery towards 5321 (daily Bollinger upper band). 

Key Quotes

“Such a view sounds us unlikely as the weekly indicators remain sharply bearish. Against this backdrop, caution remains in order with an eye on the supports at 5112-5120 (daily Bollinger lower band). A break below these thresholds would unleash added downside potential to 5051-5067 (weekly parabolic).”