After the Bell | Technical outlook worsens as CAC 40 toiled to close at 7,324.75 Thursday

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

While CAC is on a 6 day bullish trend, Thursday's session put the brakes on the ongoing uptrend — CAC 40 moves 0.12% to close at 7,324.75 Thursday.

After hitting an important low of 15.42 approximately 6 months ago, CAC has bounced back 47,347% since.

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 40 is positioned for a downward move in the near term.

Fundamental indicators – Euro Zone CFTC EUR speculative net positions released yesterday at 20:30 UTC with a figure of 143,400, while the previous figure was 145,000.

While CAC was pretty flat Thursday, mixed performances were seen elsewhere as FTSE went up by 1.03% Thursday, and closed at 7,741.56. KOSPI Composite Index is trading around 2,490.41 after ending Thursday's session at 2,459.23 (up 1.27% today). Nasdaq went up by 0.76% Thursday, and closed at 12,100.