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April 28, 2023- Medium-term trend indication turns negative after MACD index generates a crossover sell signal
Having fallen 93.16 points in 4 days, Yesterday's session continued down the same path: CAC 40 retreats 0.47% to close at 7,449 yesterday.
The index has been trending positively for about a month. CAC hit a significant low of 15.42 around 7 months ago, but has since recovered 48,433%.
The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions.
In the short term, CAC 40 is expected to maintain its recent downtrend and continue spiralling lower.
Fundamental indicators – Germany Unemployment Change published today at 07:55 UTC came out at 24,000, falling short of the 10,000 projections and continuing its decline from the previous 16,000 figure.
Positive performances can be seen by looking at other markets as S&P 500 went up by 1.96% yesterday, and closed at 4,135.35. Dow Jones went up by 1.57% yesterday, and closed at 33,826. Nasdaq jumps 2.43% yesterday and closed at 11,854.
Upcoming fundamentals: projections for Euro Zone GDP are set for a continuation of decline with -0.1 while previous data was 0.3; data will be released tomorrow at 09:00 UTC.
