CAC 40 bearish brekdown | 22-Nov-2011

CAC 40 technical chart is shown below with Ichimoku indicator.

In the last trading session, CAC 40 CLOSED below kumo 2894.94. Chikou Span (CS) was already below kumo; thus confirming the bearish breakdown. This may be the beginning of new downtrend cycle. Do not take any long positions here. Instead, take ONLY short positions.