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June 23, 2023- Falling prices have precipitated CAC 40's approach to its lower Bollinger Band® at 7,076
CAC 40's bearish run has lasted 4 days so far (-197.28 points). Today's session continued the recent downtrend: CAC slips 0.55% to close at 7,163.42 today.
CAC 40 hit a significant low of 15.42 around 9 months ago, but has since recovered 46,600%.
CAC's lower Bollinger Band® is at 7,076, 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, it seems CAC —which is currently on a downtrend— might reverse course and start pointing upward in the short term.
Fundamental indicators – Euro Zone CFTC EUR speculative net positions released today at 20:30 UTC with a figure of 144,600, while the previous figure was 151,800.
In the meantime, negative performances are also seen in other markets, ASX 200 is down to 7,099.2, losing 96.3 points, after ending the previous session around 7,195.5. Hang Seng is down to 18,900, losing 318.35 points, after ending the previous session around 19,218. After ending today's session at 33,265, Nikkei lost 483.34 points and is trading around 32,782.
Upcoming fundamentals: Euro Zone ECB's Schnabel speech will be released tomorrow at 13:15 UTC.
