- The CCI indicator stands above +100
- The lower Bollinger Band® is currently at 15,158 while the higher band is at 16,100
Keeping up its 12 days of climbing (+841 points), It was more of the same for the DAX Friday — the DAX increases 0.77% to close at 15,922 Friday.
The index has been trending positively for about a month. The DAX hit a significant low of 15.42 around 7 months ago, but has since recovered 102,367%.
With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at 16,100, thereby suggesting that the DAX is becoming overvalued.
Notwithstanding the DAX's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
The DAX shows positive signs, other assets are also on par: Nikkei improves 1.4% Friday and closed at 28,458. Dow Jones rises 0.8% Friday and closed at 33,826. FTSE added 0.5% and closed around 7,831.58 Friday.