After the Bell | Mixed technical outlook for CAC 40 despite basking in bullish intraday sentiment

• The MACD line is significantly above the MACD signal line
• The lower Bollinger Band® is currently at 7,109.2 while the higher band is at 7,544

The sentiment that generated 469.33 points in cumulative gains over the past 9 days was further evident for CAC. Yesterday's session pointed in the same direction — CAC 40 rose 38.78 points to close at 7,519.61 yesterday which makes for a move of 0.52%.

The index has been trending positively for about a month. Having set a significant high of 7,519.61 a day ago, CAC is trading 0.52% lower.

The MACD is significantly above its signal line, which suggests the market is running out of bullish momentum and could revert to a negative outlook as bears regain control. CAC's upper Bollinger Band® is at 7,544, this is a slight indication of a slowdown.

Technical analysis suggests there could be an imminent reversal for CAC.

Fundamental indicators – Euro Zone CFTC EUR speculative net positions released yesterday at 20:30 UTC with a figure of 163,300, while the previous figure was 143,400.

Other markets are also showing gains as Nikkei is trading around 28,500 after ending yesterday's session at 28,157 (up 1.2% today). ASX 200 added 0.51% and closed around 7,324 yesterday. FTSE increases 0.36% yesterday and closed at 7,843.38.

Upcoming fundamentals: Italy Consumer Price Index is expected tomorrow at 08:00 UTC.