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May 25, 2023- The MACD is significantly below its signal line which suggests that the existing bearish sentiment is beginning to swing around toward a more bullish outlook.
- Falling prices have precipitated CAC 40's approach to its lower Bollinger Band® at 7,261
CAC 40 has lost 3.78% over the last 4 days. Yesterday's session continued the recent downtrend: CAC 40 withdraws 0.62% to close at 7,208.73 yesterday.
The index has been trending lower for about a month. CAC 40 hit a significant low of 15.42 around 8 months ago, but has since recovered 46,939%.
The MACD is significantly below its signal line, which suggests the market is running out of bearish momentum and could revert to a positive outlook as bulls regain control. CAC 40's lower Bollinger Band® is at 7,261, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems CAC 40 is set to appreciate despite today's setback.
Fundamental indicators – Germany GDP fell short of the -0.1 projections, with new data of -0.3.
In the meantime, negative performances are also seen in other markets, after ending yesterday's session at 19,100, Hang Seng lost 367.4 points and is trading around 18,733. ASX 200 is down to 7,138.2, losing 75.6 points, after ending the previous session around 7,213.8. Dow Jones decreases 0.77% yesterday and closed at 33,056.
Upcoming fundamentals: Germany Buba Mauderer speech scheduled to come out tomorrow at 07:05 UTC.
