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June 27, 2023- A Morning Star, which is a bullish visual pattern consisting of three candlesticks. The pattern forms following a downward trend and tends to indicate a reversal before the start of a new upward climb.
While CAC 40 was in the midst of a 6 day downtrend— in which it lost a total of 2.5%— Today may indicate a change of direction; CAC rose 31.23 points to close at 7,215.58 today which makes for a move of 0.43%.
Having set a significant low of 15.42 9 months ago, CAC is trading 46,500% higher.
Today's price action generated a Japanese candlestick pattern showing a Morning Star, which is a bullish visual pattern consisting of three candlesticks. The pattern forms following a downward trend and tends to indicate a reversal before the start of a new upward climb.
Fundamental indicators – following a previous reading of 88.3, Business Expectations in Germany released yesterday at 08:00 UTC fell short of the 88 figure expected by analysts with an actual reading of 83.6.
CAC shows positive signs, other assets are also on par: Hang Seng added 1.88% and closed around 18,800 today. Nasdaq went up by 1.65% today, and closed at 13,556. Notably, S&P 500 rose 1.15% today and closed at 4,328.82.
Upcoming fundamentals: Italy Consumer Price Index figure is projected at 0.1%. It previously stood at 0.3%; data will be released tomorrow at 09:00 UTC.
