CAC 40 (CAC) Up $52 On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; Started Today Down 1.59%

CAC 40 4 Hour Price Update

Updated September 09, 2020 11:12 AM GMT (07:12 AM EST)

CAC 40’s 5 four-hour candle negative streak has officially concluded, as the candle from the last 4 hour candle closed up 1.05% (52). Out of the 8 instruments in the 8 major global equity indices asset class, CAC 40 ended up ranking 3rd for the four-hour candle in terms of price change relative to the last 4 hour candle.

CAC 40 Daily Price Recap

The back and forth price flow continues for CAC 40, which started today off at 4973.52 US dollars, down 1.59% (80.2) from yesterday. Relative to other instruments in the 8 major global equity indices asset class, CAC 40 ranked 6th since yesterday in terms of percentage price change. The daily price chart of CAC 40 below illustrates.

CAC

CAC 40 Technical Analysis

First things first: CAC 40 crossed below its 20 and 50 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 10 days CAC 40’s price has gone down 7 them. Price action traders may wish to observe the bearish engulfing pattern that has emerged over the past two trading days; in light of the uptrend on the 90 and 30 day charts this may be particularly noteworthy, as it may signal the uptrend is cooling and ready to reverse.

Overheard on Twitter

Over on Twitter, here were the top tweets about CAC 40:

  • From macro_intel:

    Positive open for European equities ahead of what will likely shape up to be a very quiet session with US on holidayπŸ‡ͺπŸ‡Ί EUROPE’S STOXX 600 .STOXX UP 0.3%
    πŸ‡©πŸ‡ͺ GERMANY’S DAX UP 0.6%
    πŸ‡¬πŸ‡§ BRITAIN’S FTSE 100 UP 0.6%
    πŸ‡«πŸ‡· FRANCE’S CAC 40 UP 0.3%
    πŸ‡ͺπŸ‡Έ SPAIN’S IBEX UP 0.5%

  • From PriapusIQ:

    πŸ”” European Opening Bell πŸ””European bourses opening firm, having held onto yesterday’s gains. Last Thursday’s ‘scene of the crime’ starting to come into focus.πŸ‡¬πŸ‡§ FTSE 100 UP 0.4%πŸ‡ͺπŸ‡Ί STOXX 600 UP 0.1%πŸ‡©πŸ‡ͺ DAX UP 0.2%πŸ‡«πŸ‡· CAC 40 UP 0.1%πŸ‡ͺπŸ‡Έ IBEX UP 0.3%

  • From DansInvestments:

    πŸ”” European Closing Bell πŸ””We’ll call it ‘profit-taking’ and say no more about it.πŸ‡©πŸ‡ͺ DAX DOWN 0.9%πŸ‡ͺπŸ‡Ί STOXX 600 DOWN 1.1%πŸ‡¬πŸ‡§ FTSE 100 DOWN 0.2%πŸ‡«πŸ‡· CAC 40 DOWN 1.6%πŸ‡ͺπŸ‡Έ IBEX DOWN 1.4%