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CAC 40 opens below 7k today and here is the next level of note
The massive falls across the global stock markets since Wednesday last week has seen prices slide all around the world and the near 10% fall on the opening in the DAX was noted here in the previous update. The CAC 40 had been the best of the three European majors on Friday, but it still closed heavily in the red, at 7,274. It reopened this morning at 6,804 and that is below the lows seen last October and November and below the post French election lows seen last summer, just above 7,200. The extension below that level on the opening today saw the index hit a low at 6,763, but it has bounced from that low now. For your guide the point at which the CAC will enter a bear market is in place at 6,607. The index is yet to reclaim the 7k level on that rebound though and even if it does there could be significant resistance in place around there and then that 7,200 area. The CAC 40 is just now trading at 6,865
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