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June 29, 2023- Medium-term trend indication has turned positive as the MACD index generated a crossover buy signal
- The lower Bollinger Band® is currently at 7,087 while the higher band is at 7,427
CAC 40 is on a 4 day bullish run gaining 52.16 points (1.72%). On-trend CAC 40 closed the session yesterday with more of the same: CAC improves 0.98% to close at 7,286.32 yesterday.
CAC 40 hit a significant low of 15.42 around 9 months ago, but has since recovered 46,700%.
Trend and momentum analysis indicates that the MACD index is indicating that momentum is shifting from bearish to bullish following a positive crossover. When the MACD rises above the signal line, it is typically considered to be a bullish development favoring long positions. According to asset volatility analysis, CAC's upper Bollinger Band® is at 7,427, this is a slight indication of a slowdown.
Overall, while CAC 40 has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Fundamental indicators – Italy Consumer Price Index came out at 0%, while a consensus of analysts was expecting 0.1%.
Other markets are also showing gains as FTSE increases 0.52% yesterday and closed at 7,461.46. EuroSTOXX is trading around 4,344.75 after ending yesterday's session at 4,305.26 (up 0.92% today).
Meanwhile, Hang Seng is down to 18,900, losing 272.05 points, after ending the previous session around 19,172.
Upcoming fundamentals: Euro Zone Consumer Price Index figure is projected at 5.6%. It previously stood at 6.1%; data will be released tomorrow at 09:00 UTC.
