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May 13, 2023- Market bulls strengthened by lower Bollinger Band® currently at 7,319.84
Positive signs: after 7 days of being mostly flat Yesterday's session shows improvement: CAC 40 goes up 0.45% to close at 7,415 yesterday.
The index has been trending positively for about 2 months. CAC is now trading 47,771% above the significant low (15.42) it slumped to 7 months ago.
CAC's lower Bollinger Band® is at 7,319.84, indicating that the market is oversold and fertile for new buyers.
Overall, looking at the technical analysis landscape, it seems CAC might continue pointing upwards in the short term.
Fundamental indicators – Euro Zone CFTC EUR speculative net positions released yesterday at 20:30 UTC with a figure of 179,400, while the previous figure was 173,500.
CAC 40 shows positive signs, other assets are also on par: Nikkei went up by 0.9% yesterday, and closed at 29,400. FTSE is trading around 7,754.62 after ending yesterday's session at 7,730.58 (up 0.31% today).
Meanwhile, after ending yesterday's session at 2,491, KOSPI Composite Index lost 15.58 points and is trading around 2,475.42.
