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March 20, 2023- 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.
- Market bulls strengthened by lower Bollinger Band® currently at 7,071
CAC has been losing ground for 6 days Today's positive session could indicate a brief correction amid a broader downtrend, or, the start of a potential reversal. CAC 40 is off to a good start after gaining 1% – now trading at 6,995.42.
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's lower Bollinger Band® is at 7,071, indicating that the market is oversold and fertile for new buyers.
CAC 40 continues to move higher with technical analysis indicating the trend will continue in the short term.
Meanwhile, Hang Seng closed at 19,000 (down 2.65%). After ending Friday's session at 6,994.8, ASX 200 lost 96.3 points and is trading around 6,898.5. Nikkei withdraws 1.42% to trade around 26,946.
