Description
⋅ Here is my updated view of the CAC in 4H timeframe.
We are currently on a huge support since it matches with the top of 2015.
If it holds and go beyond the wave 1 (@ 5442), we would go straight to 5750 which is a huge resistance and should then expect a deep retracement.
5950 is also in sight but it is not clear for the moment of the importance of it. Maybe a peak to chase the stops ? Will see when we get there...
In anycase the final target is set at 6200 which corresponds with the end of multiple cycles, including the largest one begun in 2012.