After the Bell | Prevailing uptrend under threat as technical outlook worsens for CAC

• Bollinger analysis indicates upper Band® is at 7,443

Stable at 7,324.75 and still trending upwards, Yesterday's session put the brakes on the ongoing uptrend — CAC moves 0.12% to close at 7,324.75 yesterday.

CAC 40 has recovered 47,347% since descending to a significant low of 15.42 around 6 months ago.

CAC's upper Bollinger Band® is at 7,443, suggesting that a downward move may follow.

Despite the market lacking direction, technical chart analysis strongly suggests CAC is positioned for a downward move in the near term.

While CAC 40 was pretty flat yesterday, mixed performances were seen elsewhere as ASX 200 went up by 1.32% yesterday, and closed at 7,314.5. FTSE is trading around 7,741.56 after ending yesterday's session at 7,663 (up 1.03% today). Notably, KOSPI Composite Index rose 1.36% yesterday and closed at 2,512.

Upcoming fundamentals: Euro Zone Retail Sales projected to come out at -0.8% — worse than previous data of 0.3%; data will be released today at 09:00 UTC.