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May 15, 2023
- The lower Bollinger Band® is currently at 7,320.2 while the higher band is at 7,591.52
Following 7 days of flat trade, Pointing in a similar direction, today's session was more of the same — CAC moves 0.05% to close at 7,418.21 today.
The index has been trending positively for about 2 months. CAC 40 hit a significant low of 15.42 around 7 months ago, but has since recovered 48,000%.
CAC's upper Bollinger Band® is at 7,591.52 and the lower is 7,320.2.
Despite muted price action in CAC 40, chart analysis indicates it is positioned for a bullish run in the short term.
Fundamental indicators – following a previous reading of 1.5%, Industrial Production in Euro Zone released today at 09:00 UTC fell short of the -2.5% figure expected by analysts with an actual reading of -4.1%.
While CAC was pretty flat today, mixed performances were seen elsewhere as Hang Seng went up by 1.75% today, and closed at 19,971. Nikkei went up by 0.81% today, and closed at 29,626. FTSE is trading around 7,777.7 after ending today's session at 7,754.62 (up 0.3% today).
Upcoming fundamentals: Euro Zone ECB President Lagarde speech set for tomorrow at 14:00 UTC.
