- The CCI indicator stands above +100
- The lower Bollinger Band® is currently at 15,154 while the higher band is at 16,100
Having added to its 774.77 points increase during 12 days of gains, The DAX pointed in the same direction today: the DAX increases 1.44% to close at 15,961 today.
The index has been trending positively for about a month. The DAX is now trading 101,938% above the significant low (15.42) it slumped to 7 months ago.
Trend analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at 16,100, thereby suggesting that the DAX is becoming overvalued.
Overall, while the DAX has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Fundamental indicators – Euro Zone Interest Rate came out at 3.75, while a consensus of analysts was expecting 3.75.
Other markets are also showing gains as S&P 500 is trading around 4,128.82 after ending today's session at 4,061.22 (up 1.66% today). Notably, Dow Jones rose 1.36% today and closed at 33,128. Notably, Nasdaq rose 2.07% today and closed at 11,966.
Upcoming fundamentals: Euro Zone CFTC EUR speculative net positions will be released today at 20:30 UTC.