CAC ends the day on a bullish note closing near the high of the day
CAC 40 Index (CAC) Technical Analysis Report for May 17, 2018
Moving higher for the 3rd day in a row, CAC ended Thursday at 5621.92 surging €54.38 (0.98%). This is the biggest single day gain in over a month. Today's closing price of 5621.92 marks the highest close since December 28, 2007. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 5570.96, CAC 40 Index confirms its breakout through the previous session's high having traded €50.96 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (CAC as at May 17, 2018):
Thursday's trading range was €51.88 (0.93%), that's far above last trading month's daily average range of €34.51. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being below average.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
With two out of the other two Major European Indices closing higher today, the ones that stand out on the positive side are DAX gaining 0.91% and FTSE closing 0.7% higher. None of the markets ended the day in the red. None..read more