The CAC 40 broke out of its November pivot high. This market action builds not only the stage for a French but also probably for a European rally during the next weeks!
As of now, the only terminal elliott wave structure that meets the rules & guidelines is an irregular flat into primary wave 2(circle). We do not embark onto this scenario unless last weeks pivot low 5474 gets broken and leaves us with 3 waves to the upside instead of 5 waves into minor wave 3.
Hence, we expect the CAC 40 to extend higher.
S/L 5474
T 5950
As of now, the only terminal elliott wave structure that meets the rules & guidelines is an irregular flat into primary wave 2(circle). We do not embark onto this scenario unless last weeks pivot low 5474 gets broken and leaves us with 3 waves to the upside instead of 5 waves into minor wave 3.
Hence, we expect the CAC 40 to extend higher.
S/L 5474
T 5950
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