- The MACD line is significantly above the MACD signal line
- CAC's upper Bollinger Band® is at 6,798.21 which indicates a further downward move may follow.
Though in the midst of a 4 day uptrend, gaining a total of 4.46%, (302.67 points), The prevailing bullish trend is beginning to fade following yesterday's downbeat session. CAC ended yesterday at 6,762.4 following from closing Tuesday at 6,776.43. Overall, this represents a loss of 14.03 points or 0.21%.
Having set a significant low of 15.42 3 months ago, CAC 40 is trading 43,846% higher.
The MACD is significantly above its signal line, which suggests the market is running out of bullish momentum and could revert to a negative outlook as bears regain control. CAC's upper Bollinger Band® is at 6,798.21 which indicates a further downward move may follow.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for CAC 40.
Fundamental indicators – Germany Trade Balance (Nov) came out at 10.8 billion, while a consensus of analysts was expecting 7.5 billion.
Positive performances can be seen by looking at other markets as notably, FTSE rose 0.6% yesterday and closed at 7,585.19. Hang Seng is trading around 21,052 after ending yesterday's session at 20,800 (up 1.25% today). S&P 500 went up by 0.75% yesterday, and closed at 3,853.
Upcoming fundamentals: Euro Zone Consumer Price Index is expected tomorrow at 10:00 UTC.