- The MACD line is significantly above the MACD signal line
- Upper Bollinger Band® currently at 13,060
Maintaining its 9 days rise (+759.19 points), The DAX lived up to expectations today by maintaining its set course — the DAX moves up 0.94% to close at 13,053 today.
The DAX is now trading 83,762% above the significant low (15.42) it slumped to 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 13,060, thereby suggesting that the DAX is becoming overvalued.
Technical analysis suggests there could be an imminent reversal for the DAX.
Fundamental indicators – Germany Business Climate Index beat the 83.3 projections, with 84.3.
Other markets are also showing gains as CAC is trading around 6,250.55 after ending today's session at 6,131.36 (up 1.94% today). S&P 500 is trading around 3,859 after ending today's session at 3,797.34 (up 1.63% today). Nasdaq surges 2.25% today and closed at 10,953.
Upcoming fundamentals: France Jobseekers Total is expected tomorrow at 10:00 UTC.