- The MACD line is significantly above the MACD signal line
- The DAX's upper Bollinger Band® is at 12,926 which indicates a further downward move may follow.
Though in the midst of an 8 day uptrend, gaining a total of 4.59%, (595.15 points), Yesterday's session suggests run might be coming to an end — the DAX ended yesterday at 12,731 following from closing Thursday at 12,767. Overall, this represents a loss of 36.51 points or 0.29%.
The DAX hit a significant low of 15.42 around a month ago, but has since recovered 82,700%.
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 12,926 which indicates a further downward move may follow.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts the DAX to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the DAX is expected to attract significant bearish sentiment in the coming days.
Fundamental indicators – Euro Zone CFTC EUR speculative net positions released yesterday at 19:30 UTC with a figure of 48,100, while the previous figure was 37,500.
Other assets are showing positive performances as Dow Jones went up by 2.47% yesterday, and closed at 31,083. S&P 500 surges 2.37% yesterday and closed at 3,665.78. Nasdaq added 2.31% and closed around 10,600 yesterday.