TechnoMeter

The CAC 40 has opened Wednesday’s trading lower, potentially decline for the third consecutive session after printing a new 2017 high to start the week. Despite this recent string of losses, traders may still consider the CAC 40 technically in an ongoing uptrend. At present the CAC 40 is trading down -0.02%. Leaders for the session include Michelin (+1.25%) and Veolia Environnement (+0.91%). Top Losers for today’s trading include both Vinci (-1.22) and ArcelorMittal (-0.97%).



Technically, the CAC 40 remains in an ongoing short and long term uptrend. If prices close at near present levels, it will mark the 15th daily close above the displayed 10 day EMA (exponential moving average). This line is now found at 5,357.96 and will continue to be a reference of support as long as the CAC 40 continues to trend higher. If prices bounce above the EMA, traders may again look for the CAC 40 to trade back towards the weekly and yearly high at 5498.90.

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