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February 26, 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.
CAC 40's bearish run has lasted 7 days so far (-48.73 points). Friday's session continued the recent downtrend: CAC 40 drops 1.78% to close at 7,187.27 Friday.
The index has been trending positively for about 2 months. CAC 40 hit a significant low of 15.42 around 5 months ago, but has since recovered 47,354%.
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.
Technical analysis indicates that CAC (currently on a downtrend) might reverse course and start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, after ending Friday's session at 15,476, DAX lost 275.7 points and is trading around 15,200. EuroSTOXX is down to 4,178.82, losing 79.18 points, after ending the previous session around 4,258. Hang Seng retreats 1.68% Friday and closed at 20,351.
Upcoming fundamentals: Euro Zone ECB's Lane speech is expected tomorrow at 17:00 UTC.
