- The CCI indicator stands above +100
- Upper Bollinger Band® currently at 7,234
CAC is on a 12 day bullish run gaining 214.4 points (4.06%). Friday's session pointed in the same direction — CAC 40 climbs 0.94% to close at 7,234 Friday.
The index has been trending positively for about a month. CAC 40 hit a significant low of 15.42 around 4 months ago, but has since recovered 46,374%.
Trend-focused traders would be interested to note that investors are seeking long positions as CAC price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Momentum evaluation shows that according to technical analysis of CAC 40's Relative Strength Index (RSI), the market is currently overbought. According to asset volatility analysis, CAC 40's upper Bollinger Band® is at 7,234, this is a slight indication of a slowdown.
Notwithstanding CAC 40's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Fundamental indicators – Germany Factory Orders improved upon its previous reading of -4.4% with a new data release of 3.2%.
CAC 40 shows positive signs, other assets are also on par: FTSE went up by 1.04% Friday, and closed at 7,901.8.
At the same time, after ending Friday's session at 2,480.4, KOSPI Composite Index lost 42.21 points and is trading around 2,438.19. After ending Friday's session at 21,660, Hang Seng lost 442.49 points and is trading around 21,218.
Upcoming fundamentals: Euro Zone ECB President Lagarde speech is scheduled today at 18:00 UTC.