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CAC slips to session lows after failing to rise above previous closing level

Earlier this morning the CAC 40 opened slightly lower. The index had closed yesterday at 7,628 after nailing its first, minor technical rebound objective, at 7,652. The index reopened today at 7,617 and so far it has failed to make it past the point at which it closed yesterday. The high seen earlier was set at 7,626 and it is right now slipping back underneath the 7,600 handle and setting fresh session lows in the process. Once again the reader is reminded of the recent tendency for investors to utilise rallies as selling opportunities and that seems to be the modus operandi so far today. The CAC 40 is currently trading at 7,592

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