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London (FTSE 100) and France (CAC 40) broke steep support lines back in 2000-2001 and 2007 and proceeded to fall hard. The FTSE is back at the 2000 & 2007 levels at this time and the CAC 40 is weaker, creating so far, lower highs in 2007 and now, compared with the high in 2000.
Both are testing steep support lines at (1) in the charts above.
Joe Friday…Keep a close eye on these two key European index’s, to see how they handle this steep support line in the next few weeks.