- 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.
- The lower Bollinger Band® is currently at 15,033 while the higher band is at 15,800
Having lost 686.48 points over 6 days, Today is looking a bit better: the DAX trades at 14,957, after ending yesterday at 14,967.
The DAX hit a significant low of 15.42 around 6 months ago, but has since recovered 96,963%.
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. The DAX's upper Bollinger Band® is at 15,800 and the lower is 15,033.
Although price action remains in a stalemate, technical analysis suggests the DAX could be primed for a break to the upside.
While the DAX is pretty flat so far today, mixed performances are seen elsewhere as Nasdaq gained 2.48% and is now trading at 11,717. Having closed the previous session at 3,892, S&P 500 is up 1.76% today to currently trade at around 3,960.28. Dow Jones added 1.17% to its value, now trading at 32,247.
Upcoming fundamentals: Euro Zone CFTC EUR speculative net positions is scheduled for today at 20:30 UTC.