CAC 40 (CAC) Down $32.16 On 4 Hour Chart, Started Today Down 0.46%; Price Base in Formation Over Past 30 Days

CAC 40 4 Hour Price Update

Updated July 17, 2020 11:13 AM GMT (07:13 AM EST)

CAC 40’s 3 four-hour candle positive streak has officially concluded, as the candle from the previous 4 hours closed down 0.63% (32.16). On a relative basis, CAC 40 was the worst performer out of all 8 of the assets in the 8 major global equity indices asset class the current 4 hour candle.

CAC 40 Daily Price Recap

CAC 40 entered today at 5085.28, down 0.46% ($23.7) from yesterday. Relative to other instruments in the 8 major global equity indices asset class, CAC 40 ranked 4th since yesterday in terms of percentage price change. The daily price chart of CAC 40 below illustrates.

CAC 40 Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that CAC 40’s price has gone down 8 of the previous 14 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to CAC 40 for the past day were:

  • From truemagic68:

    The Covid19 Moderna euphoria on Wall Street died down in Asia, where Chinese data, especially retail sales disappointed – European opening calls suggest digestion – FTSE 100 -36 points at 6268, DAX -110 points at 12839, CAC 40 -40 points at 5068, DJIA Futures -83 points at 26786

  • From truemagic68:

    Street of Dreams purred yesterday, buoyed by vaccine hopes & OK earnings. Despite improved Chinese trade data, their bourses were underwhelmed. Suggested opening calls look promising – FTSE 100 +52 at 6220, DAX-165 at 12829, CAC 40 -61 at 5068, DJIA Futures +250 at 26886 @ 5.03am

  • From truemagic68:

    Despite reasonable earnings, apart from Netflix, investors focused on dispiriting employment data and Covid19, skimming some cream off Wall Street. Suggested opening calls look reflective – FTSE 100 +15 @ 6267, DAX +30 @ 12911, CAC 40 +12 @ 5099, DJIA Futures -21 @ 26708 @ 5.29am