- The MACD line is significantly above the MACD signal line
- The DAX's upper Bollinger Band® is at 13,823 which indicates a further downward move may follow.
Though in the midst of a 4 day uptrend, gaining a total of 4.08%, (558.56 points), The prevailing bullish trend is beginning to fade following today's downbeat session. The DAX slips 0.16% to close at 13,666 today.
The DAX hit a significant low of 15.42 around a month ago, but has since recovered 88,673%.
The MACD is significantly above its signal line, which suggests the market is running out of bullish momentum and could revert to a negative outlook as bears regain control. The DAX's upper Bollinger Band® is at 13,823 which indicates a further downward move may follow.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for the DAX.
Fundamental indicators – Germany 10-Year Bund Auction released today at 10:30 UTC with a figure of 2.25, while the previous figure was 2.33.
In the meantime, negative performances are also seen in other markets, after ending today's session at 33,161, Dow Jones lost 525.78 points and is trading around 32,635. S&P 500 dips 1.68% today and closed at 3,828. Nasdaq slides down 2.18% today and closed at 10,616.
Upcoming fundamentals: Euro Zone ECB's Enria speech is expected tomorrow at 12:30 UTC.