CAC 40 (CAC) Heads Down For the 2nd Straight Day, Breaks Below 20 Day Average; in an Uptrend Over Past 90 Days

The Hourly View for CAC

Last Updated June 29, 2021, 02:017 GMT

Currently, CAC 40’s price is down -3.5 (-0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

CAC 40 Daily Price Recap

CAC 40 came into today down 0.98% (64.85) from the open of the previous day, marking the 2nd straight day a decrease has occurred. Out of the 14 instruments in the equity indices asset class, CAC 40 ended up ranking 13th for the day in terms of price change relative to the previous day. Below is a daily price chart of CAC 40.

CAC

CAC 40 Technical Analysis

Moving average crossovers are always interesting, so let’s start there: CAC 40 crossed below its 20 day moving average yesterday. Volatility for CAC 40 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 9 out of the past 14 days.