After the Bell Technical Review | Tech analysis points to new bearish phase for CAC as it runs out of steam around 7,286.24

• Upper Bollinger Band® currently at 7,401

The sentiment that generated 46.98 points in cumulative gains over the past 5 days was further evident for CAC. Yesterday's session pointed in the same direction — CAC improves 0.69% to close at 7,284.22 yesterday.

The index has been trending positively for about 2 months. Having set a significant low of 15.42 5 months ago, CAC is trading 46,800% higher.

CAC's upper Bollinger Band® is at 7,401, this is a slight indication of a slowdown.

After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest CAC is set for a reversal in the coming days.

Fundamental indicators – Euro Zone Consumer Price Index came out at 8.5%, while a consensus of analysts was expecting 8.2%.

Upcoming fundamentals: Germany Trade Balance (Jan) will be released today at 07:00 UTC.