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June 26, 2023- Market bulls strengthened by lower Bollinger Band® currently at 7,067.28
While in the midst of a 5 day downtrend, Today's positive session could indicate a brief correction amid a broader downtrend, or, the start of a potential reversal. CAC gained 0.42% and is now trading at 7,193.18.
CAC hit a significant low of 15.42 around 9 months ago, but has since recovered 46,355%.
CAC's lower Bollinger Band® is at 7,067.28, indicating that the market is oversold and fertile for new buyers.
Examining the technical analysis landscape, CAC 40 might continue its downtrend in the short term.
Fundamental indicators – Business Expectations in Germany fell short of market expectations (88) with a reading of 83.6, continuing the decline from the previous figure of 88.3.
CAC shows positive signs, other assets are also on par: having closed the previous session at 2,570, KOSPI Composite Index is up 0.47% today to currently trade at around 2,582.2. Having closed the previous session at 13,500, Nasdaq is up 0.5% today to currently trade at around 13,560.
Meanwhile, Hang Seng is trading around 18,800 (down 100 points).
Upcoming fundamentals: Euro Zone ECB President Lagarde speech is expected today at 17:30 UTC.
