- The MACD line is significantly above the MACD signal line
- Bollinger analysis indicates upper Band® is at 7,652
While CAC 40 is on a 13 day bullish trend, Today's session might suggest a slow down — CAC 40 trades at 7,574, after ending Friday at 7,577.
The index has been trending positively for about a month. CAC hit a significant low of 15.42 around 7 months ago, but has since recovered 49,037%.
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 40's upper Bollinger Band® is at 7,652, suggesting that a downward move may follow.
According to technical indicators, CAC 40 is positioned for a downward move in the short term.
Fundamental indicators – Germany Business Climate Index released earlier showed a marked improvement to 93.6 from the preceding data of 93.2, but fell short of the 94 figure forecast by a consensus of market analysts.
At the same time, mixed performances are seen elsewhere as KOSPI Composite Index is down to 2,523.5, losing 20.9 points, after closing at 2,544.4 in the preceding trading session. Hang Seng is down to 19,960, losing 115.79 points, after closing at 20,076 in the preceding trading session. Nasdaq draws back 0.34% to trade around 12,031.
Upcoming fundamentals: Euro Zone ECB's Enria speech is scheduled tomorrow at 08:00 UTC.