CAC40 - SELL IDEA

Analyzing the CAC 40 Index on the 15-minute chart, it appears that the market is reaching the completion of a significant upward movement, which has been developing over the past few sessions. We can identify the formation of a potential fifth wave, which suggests that the bullish trend might be coming to an end.

The chart indicates a likely correction phase ahead, as the price has started to pull back from its recent high. The Fibonacci retracement levels provide key targets for this correction. The 0.382 retracement level at 7471.13, followed by the 0.5 level at 7423.58, and the deeper 0.618 level at 7376.03, could serve as support levels where the price may find some buying interest.

Traders looking to short the CAC 40 might consider entering positions as the price confirms the beginning of the corrective wave. The move towards these Fibonacci levels could offer a good opportunity for profit, especially if the correction unfolds as expected. However, it is crucial to monitor the price action closely at these levels to determine if the market will continue its downward momentum or if it finds support and reverses direction.