- Medium-term trend indication turns negative after MACD index generates a crossover sell signal
While the DAX is in the midst of a 7 day up trend, Bucking the trend and turning lower, the DAX is down to 15,100, after ending Friday at 15,150. Overall, a 0.4% loss or 50.03 points today.
The index has been trending positively for about a month. The DAX is up 98,149% from the significant low of 15.42 it hit 4 months ago.
The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts the DAX to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the DAX is expected to attract significant bearish sentiment in the coming days.
Fundamental indicators – highly important GDP data from Germany beat analyst expectations of zero with a reading of -0.2.
In the meantime, negative performances are also seen in other markets, after ending Friday's session at 22,700, Hang Seng lost 630.27 points and is trading around 22,070. KOSPI Composite Index dips 1.35% to trade around 2,450.47.
Other assets are showing positive performances as Nasdaq improves 0.95% to trade around 11,622.
Upcoming fundamentals: Germany Unemployment Change projected to come out at 5,000 — worse than previous data of -13,000; data will be released tomorrow at 08:55 UTC.