| 
June 06, 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.
- Lower Bollinger Band® at around 7,152
CAC 40 slips 0.23% to close at 7,184.42 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 46,600%.
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's lower Bollinger Band® is at 7,152, 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 – Euro Zone Retail Sales released earlier showed a marked improvement to 0% from the preceding data of -0.4%, but fell short of the 0.2% figure forecast by a consensus of market analysts.
Upcoming fundamentals: Germany Industrial Production is projected to outperform its last figure with -1.3%. It previously stood at -3.4%; data will be released tomorrow at 06:00 UTC.
