- 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.
- Relative Strenght Index (RSI) indicates the DAX is currently overbought
Having added to its 1,297.4 points increase during 15 days of gains, As the session continues, it seems to maintain one direction — after closing the previous trading day at 14,428, the DAX is up to 14,559, which makes for a move of 0.91%/131.08 points today.
The index has been trending positively for about a month. The DAX hit a significant low of 15.42 around 2 months ago, but has since recovered 93,464%.
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.
Overall, looking at the technical analysis landscape, it seems the DAX might continue pointing upwards in the short term.
Fundamental indicators – Germany Business Climate Index came out at 86.3, better than analyst estimates of 85 and improving upon the previous reading of 84.5.
Other markets are also showing gains as KOSPI Composite Index is up 0.96% to 2,441.33. Nikkei is up 0.95%. Nasdaq gained 0.99% and is now trading at 11,300.
Upcoming fundamentals: Germany GDP is expected tomorrow at 07:00 UTC.