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

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

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

CAC is now trading 47,347% above the significant low (15.42) it slumped to 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.

Fundamental indicators – data from Germany concerning Industrial Production was released yesterday at 06:00 UTC. Newly published figures emphasized continued decline from last month's figure of 3.7% to 2% this month.

While CAC was pretty flat yesterday, mixed performances were seen elsewhere as FTSE added 1.03% and closed around 7,663 yesterday. KOSPI Composite Index increases 1.23% yesterday and closed at 2,459.23. Nasdaq went up by 0.76% yesterday, and closed at 12,100.

Upcoming fundamentals: Euro Zone CFTC EUR speculative net positions will be released today at 20:30 UTC.