- The MACD line is significantly above the MACD signal line
- 'Bearish Harami' is a candlestick chart indicator used for detecting reversals within a prevailing bull trend. It is generally indicated by a small price decrease that's contained within a broader upward price movement and is commonly associated with a bullish trend coming to an end.
While the DAX is on a 19 day bullish trend, Today's session put the brakes on the ongoing uptrend — the DAX moves 0.03% to close at 15,182 today.
4 months ago, the DAX fell to a low of 15.42 but has since recovered 98,400%.
Today's price action generated a Japanese candlestick pattern showing 'Bearish Harami' is a candlestick chart indicator used for detecting reversals within a prevailing bull trend. It is generally indicated by a small price decrease that's contained within a broader upward price movement and is commonly associated with a bullish trend coming to an end. Trend analysis indicates that 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. Momentum evaluation shows that according to technical analysis of the DAX's Relative Strength Index (RSI), the market is currently overbought.
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 Consumer Price Index released today at 10:00 UTC with a figure of 9.2%, while the previous figure was 10.1%.
While the DAX was pretty flat today, mixed performances were seen elsewhere as Nikkei went up by 2.5% today, and closed at 26,800. Dow Jones dips 1.81% today and closed at 33,900. S&P 500 lost 1.56% today and closed at 3,991.
Upcoming fundamentals: Euro Zone ECB Publishes Account of Monetary Policy Meeting is expected tomorrow at 12:30 UTC.