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May 17, 2023- The lower Bollinger Band® is currently at 7,312 while the higher band is at 7,581
Following 9 days of flat trade, Pointing in a similar direction, yesterday's session was more of the same — CAC 40 moves 0.16% to close at 7,406 yesterday.
The index has been trending positively for about 2 months. CAC 40 hit a significant low of 15.42 around 8 months ago, but has since recovered 48,000%.
CAC's upper Bollinger Band® is at 7,581 and the lower is 7,312.
Despite muted price action in CAC, chart analysis indicates it is positioned for a bullish run in the short term.
Fundamental indicators – Euro Zone ZEW Economic Sentiment Index came out at -9.4, while a consensus of analysts was expecting -1.
While CAC 40 was pretty flat yesterday, mixed performances were seen elsewhere as Dow Jones retreats 1% yesterday and closed at 33,349. Hang Seng is down to 19,750, losing 228.51 points, after ending the previous session around 19,978. Nikkei went up by 0.84% yesterday, and closed at 30,100.
Upcoming fundamentals: Euro Zone Consumer Price Index is expected today at 09:00 UTC.
