After the Bell Technical Review | Tech analysis points to new bearish phase for CAC 40 as it runs out of steam around 7,358

• The lower Bollinger Band® is currently at 7,106.74 while the higher band is at 7,416.55

Having gone up 96.95 points over the past 6 days, Friday's session pointed in the same direction — CAC improves 0.88% to close at 7,348 Friday.

The index has been trending positively for about 2 months. CAC 40 hit a significant low of 15.42 around 5 months ago, but has since recovered 47,139%.

Bollinger Band® analysis indicates that current price action is approaching the upper band at 7,416.55, thereby suggesting that CAC is becoming overvalued.

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.

CAC 40 shows positive signs, other assets are also on par: S&P 500 rallies 1.61% Friday and closed at 3,981.35. Nikkei went up by 1.56% Friday, and closed at 27,927. Nasdaq is trading around 11,700 after ending Friday's session at 11,463 (up 1.97% today).

Upcoming fundamentals: Euro Zone Retail Sales is projected to outperform its last figure with 1%. It previously stood at -2.7%; data will be released tomorrow at 10:00 UTC.