- The MACD line is significantly above the MACD signal line
- The lower Bollinger Band® is currently at 12,216 while the higher band is at 13,760
The DAX continues a 3 day uptrend, gaining a total of 3.07%. The DAX stayed on track yesterday: the DAX rises 0.55% to close at 13,534 yesterday.
The DAX is up 87,200% from the significant low of 15.42 it hit a month ago.
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 13,760, thereby suggesting that the DAX is becoming overvalued.
Technical analysis of the DAX price action suggests it is likely to undergo a short-term reversal amid broader bullish sentiment.
Fundamental indicators – data for Germany Industrial Production published yesterday at 07:00 UTC came out at 0.6%, beating projections of 0.2% and showing improvement over the preceding figure of -1.2%.
Other markets are also showing gains as Dow Jones is trading around 32,827 after ending yesterday's session at 32,400 (up 1.31% today). Nikkei rises 1.3% yesterday and closed at 27,528. KOSPI Composite Index went up by 1% yesterday, and closed at 2,395.83.
Upcoming fundamentals: Euro Zone Retail Sales is projected to outperform its last figure with 0.4%, having previously been at -0.3%. The figure will be published today at 10:00 UTC.