- The CCI indicator stands above +100
- Bollinger analysis indicates upper Band® is at 15,900
In the midst of an 8 day bullish trend, Yesterday's session put the brakes on the ongoing uptrend — the DAX moves 0.11% to close at 15,800 yesterday.
The index has been trending positively for about a month. After hitting an important low of 15.42 approximately 7 months ago, the DAX has bounced back 102,400% since.
Trend analysis indicates that investors are seeking long positions as DAX price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Asset volatility analysis shows that the DAX's upper Bollinger Band® is at 15,900, suggesting that a downward move may follow.
Overall, while the DAX has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Fundamental indicators – Italy Consumer Price Index came out at -0.4%, while a consensus of analysts was expecting -0.3%.
Upcoming fundamentals: Germany ZEW Economic Sentiment Index figure is projected at 15.3. It previously stood at 13; data will be released today at 09:00 UTC.