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February 28, 2023
- CAC 40's upper Bollinger Band® is at 7,403 which indicates a further downward move may follow.
CAC 40 slides down 0.24% to close at 7,278 yesterday.
The index has been trending positively for about 2 months. CAC 40 has recovered 47,200% since descending to a significant low of 15.42 around 5 months ago.
CAC's upper Bollinger Band® is at 7,403 which indicates a further downward move may follow.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting CAC 40 to extend its recent losses.
Fundamental indicators – Spain HICP (YoY) (Feb) released today at 08:00 UTC with a figure of 6.1, while the previous figure was 5.9.
In the meantime, negative performances are also seen in other markets, Hang Seng slides down 0.79% yesterday and closed at 19,944.
Positive performances can be seen by looking at other markets as ASX 200 ascends 0.47% yesterday and closed at 7,224.8. Notably, Nasdaq rose 0.63% yesterday and closed at 11,400.
Upcoming fundamentals: tomorrow at 08:55 UTC data for Germany Unemployment Change will be released, with an expected decline to 9,000 from the preceding figure of -15,000.
