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Investors are starting a busy week in microeconomics, with numerous publications, in particular those of GAFAM, but also in macroeconomics, with a multitude of statistics and central bank meetings. Investors will first learn about the Purchasing Managers’ Index, or in French the Indices des Directeurs d’Achat, both in the manufacturing and services sectors. Overly positive data could worry investors as it would mean renewed inflationary pressures. The leading indicators point to an opening in the slight red, particularly linked to the poor developments in Chinese real estate. Indeed, the shares of Chinese real estate developers have collapsed today. Concerns about an industry-wide debt crisis are growing and government stimulus measures have so far failed to breathe new life into the property market. This information should weigh on luxury stocks in France and on German industrial stocks. We will therefore find throughout the session the publication in France, then in Germany, and finally for Europe this morning of the PMIs. This afternoon, shortly after the opening of Wall Street, the PMIs will also be in the spotlight. This day values ​​such as Philips, Logitech or Ryanair will animate the trend and in particular that of their sector with publications.

KEY GRAPHIC ELEMENTS

Technically, the Parisian index is bullish in the short term and is back in a sell zone. The 7400/7500 points zone constitutes a zone of vigilance in which operators can monitor hourly bearish breakouts to reverse their long positions. In the event of a bearish signal, the target level is the area of ​​7100 points.

FORECAST

In view of the key graphic factors that we have identified, our opinion is neutral on the CAC 40 index in the short term.

We will take care to note that a crossing of 7500.00 points would revive the tension in the purchase. While a break of 7410.00 points would relaunch the selling pressure.

The News Bulletin 247 board

CAC 40
Neutral
Resistance(s):
7500.00 / 7585.00 / 7740.00
Medium(s):
7410.00 / 7084.00 / 7015.00

Hourly data chart

Graphic made from the software Prorealtime

Chart in daily data

CAC 40: PMIs get the ball rolling (©ProRealTime.com)
Graphic made from the software Prorealtime

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