Weekly Index Update: F40 (France 40)

The F40 (France 40) broke through the support line of this 240-minute Triangle Continuation chat pattern signaling a possible breakdown into a forecast zone at 3788 to 3838.  Although a breakout to the downside has been signaled, there hasn’t been enough momentum to drive it away from support toward the target zone. This may be because bullish traders may be defending the bottom at 3861.10. Coupled with a break of the uptrending support line, a break through this horizontal support level may trigger an acceleration to the downside.