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Technical Review | The DAX lacking direction as recent uptrend begins to fade

13 April 2023

^GDAXI

The CCI indicator stands above +100
The DAX's upper Bollinger Band® is at 15,820 which indicates a further downward move may follow.

During a 6 day uptrend, the DAX gained a total of 744.13 points, or 4.84%. Bucking the trend and turning lower, the DAX is down to 15,684, after ending yesterday at 15,700. Overall, a 0.13% loss or 16.3 points today.

The index has been trending positively for about 28 days. The DAX hit a significant low of 15.42 around 6 months ago, but has since recovered 101,739%.

Technical analysis trend indicators suggest that investors are seeking long positions as DAX price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, the DAX's upper Bollinger Band® is at 15,820 which indicates a further downward move may follow.

Notwithstanding the DAX's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Fundamental indicators – Germany Consumer Price Index came out at 0.8%, while a consensus of analysts was expecting 0.8%.

Positive performances can be seen by looking at other markets as CAC is up 0.85%. Nasdaq added 1.15% to its value, now trading at 12,066. KOSPI Composite Index climbs 0.43% to trade around 2,561.66.

Upcoming fundamentals: Spain HICP (YoY) (Mar) is expected tomorrow at 07:00 UTC.

Market Summary

Latest Indices News

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Key support level at 7,765.32 looms for downtrending the FTSE; currently 62.68 points away

Intraday brief: 3 indices of the day

Discover the most volatile indices from Friday's muted session

The STOXX Europe 50 Index hones in on key resistance at 4,360

Closing Bell | Mixed technical outlook for the DAX despite basking in bullish intraday sentiment

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