- The MACD is significantly below its signal line which suggests that the existing bearish sentiment is beginning to swing around toward a more bullish outlook.
- Bollinger analysis indicates upper Band® is at 14,727
It's been more of the same this session on the back of 5 days of flat trade, Today's session so far looks to be heading in a similar way — the DAX trades at 14,431, after ending yesterday at 14,448.
The index has been trending positively for about a month. Having set a significant high of 16,272 2 months ago, the DAX is trading 93,600% lower.
Trend-focused traders would be interested to note that the MACD is significantly below its signal line, which suggests the market is running out of bearish momentum and could revert to a positive outlook as bulls regain control. Asset volatility analysis shows that the DAX's upper Bollinger Band® is at 14,727, suggesting that a downward move may follow.
The current technical outlook indicates the DAX will continue to ebb sideways within tight ranges for the immediate future.
Fundamental indicators – Germany Factory Orders came out at 0.8%, better than analyst estimates of 0.1% and improving upon the previous reading of -2.9%.
Meanwhile, mixed performances are seen elsewhere as after ending yesterday's session at 4,071.7, S&P 500 lost 72.7 points and is trading around 3,999. Dow Jones closed at 33,947 (down 1.4%). Nasdaq retreats 1.93% to trade around 11,240.
Upcoming fundamentals: tomorrow at 07:00 UTC data for Germany Industrial Production will be released, with an expected decline to -0.6% from the preceding figure of 0.6%.