- The MACD line is significantly above the MACD signal line
- CAC has crossed the upper Bollinger band at 6,107.24, a potential sign that further gains are to follow.
CAC continues a 4 day uptrend, gaining a total of 5%. Yesterday's session pointed in the same direction — CAC rose 67.75 points to close at 6,108.41 yesterday which makes for a move of 1.12%.
CAC 40 is up 39,074% from the significant low of 15.42 it hit a month ago.
CAC has just crossed its upper Bollinger band at 6,107.24, suggesting further gains could be on the cards. In contrast, 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.
Overall, looking at the technical analysis landscape, it seems CAC 40 likely to continue pointing upward in the short term.
Fundamental indicators – Italy Consumer Price Index released yesterday at 08:00 UTC with a figure of 0.3%, while the previous figure was 0.8%.
Other markets are also showing gains as S&P 500 is trading around 3,678 after ending yesterday's session at 3,583 (up 2.65% today). Notably, ASX 200 rose 1.72% yesterday and closed at 6,664.4. Nasdaq surges 3.43% yesterday and closed at 10,321.
Upcoming fundamentals: Euro Zone Consumer Price Index is expected tomorrow at 09:00 UTC.