- The MACD line is significantly above the MACD signal line
- Upper Bollinger Band® currently at 13,700
The DAX rose 329.66 points to close at 13,460 Friday which makes for a move of 2.51%.
The DAX hit a significant low of 15.42 around a month ago, but has since recovered 85,050%.
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. Bollinger Band® analysis indicates that current price action is approaching the upper band at 13,700, thereby suggesting that the DAX is becoming overvalued.
Technical analysis suggests there could be an imminent reversal for the DAX.
The DAX shows positive signs, other assets are also on par: Hang Seng explodes 5.36% Friday and closed at 15,339. FTSE is trading around 7,335 after ending Friday's session at 7,188.63 (up 2.03% today). CAC added 2.77% and closed around 6,243.28 Friday.
Upcoming fundamentals: Germany Industrial Production is projected to outperform its last figure with 0.2%. It previously stood at -0.8%; data will be released tomorrow at 07:00 UTC.