| 
April 12, 2023- Medium-term trend indication has turned positive as the MACD index generated a crossover buy signal
- The lower Bollinger Band® is currently at 7,125.8 while the higher band is at 7,457.38
CAC is on a 6 day bullish run gaining 378.78 points (5.81%). On-trend CAC 40 closed the session yesterday with more of the same: CAC rose 28.31 points to close at 7,418.59 yesterday which makes for a move of 0.38%.
The index has been trending positively for about 29 days. CAC 40 hit a significant low of 15.42 around 6 months ago, but has since recovered 47,827%.
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. Despite this, Bollinger Band® analysis indicates that current price action is approaching the upper band at 7,457.38, thereby suggesting that CAC is becoming overvalued.
Overall, looking at the technical analysis landscape, it seems CAC 40 likely to continue pointing upward in the short term.
Fundamental indicators – data from Euro Zone concerning Retail Sales was released yesterday at 09:00 UTC. Newly published figures emphasized continued decline from last month's figure of 0.8% to -0.8% this month.
CAC 40 shows positive signs, other assets are also on par: FTSE rises 0.64% yesterday and closed at 7,785.72. ASX 200 went up by 0.47% yesterday, and closed at 7,344.
At the same time, Hang Seng lost 0.86% yesterday and closed at 20,500.
Upcoming fundamentals: Germany Consumer Price Index is expected tomorrow at 06:00 UTC.
