Quarterly Outlook
Q3 Investor Outlook: Beyond American shores – why diversification is your strongest ally
Jacob Falkencrone
Global Head of Investment Strategy
Technical Analyst, Saxo Bank Group
CAC40 jumped higher to be rejected at the resistance at around 6,792 forming a top and reversal pattern (Opening Black Marubozu). If CAC40 slides back to close below 6,641 the top and reversal has been confirmed and CAC could drop to 6,400-6,300 with support at 6,522.
For CAC40 to extend the uptrend a close above 6,792 is needed.