- 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 DAX's upper Bollinger Band® is at 14,600 which indicates a further downward move may follow.
The DAX has been losing ground for 3 days, shedding a total of 1.49% of its value. More of the same today: the DAX is down to 14,300, after ending yesterday at 14,343. Overall, a 0.21% loss or 43.19 points today.
The index has been trending positively for about a month. The DAX is up 92,917% from the significant low of 15.42 it hit 2 months ago.
Trend analysis indicates 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. According to asset volatility analysis, the DAX's upper Bollinger Band® is at 14,600 which indicates a further downward move may follow.
All in all, the technical analysis suggests the DAX has no clear-cut direction.
Fundamental indicators – data for Euro Zone GDP published today at 10:00 UTC came out at 0.3, beating projections of 0.2 and showing improvement over the preceding figure of 0.2.
In the meantime, negative performances are also seen in other markets, Hang Seng is down 641.18 points from the beginning of the session and now trades around 18,800. ASX 200 is trading around 7,229.4 (down 61.9 points). After ending yesterday's session at 11,000, Nasdaq lost 100 points and is trading around 10,900.
Upcoming fundamentals: Euro Zone ECB President Lagarde speech set for tomorrow at 12:00 UTC.