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
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.