- The MACD line is significantly above the MACD signal line
- Bollinger analysis indicates upper Band® is at 13,400
Stable at 13,240 and still trending upwards, Today's session might suggest a slow down — the DAX closed Friday's trading session sideways – today as trading session starts it is hovering around 13,240.
Having set a significant high of 16,272 a month ago, the DAX is trading 85,800% lower.
The MACD is significantly above its signal line, which suggests the market is running out of bullish momentum and could revert to a negative outlook as bears regain control. The DAX's upper Bollinger Band® is at 13,400, suggesting that a downward move may follow.
Although price action remains in a stalemate, technical analysis suggests the DAX could be primed for a break to the downside.
Fundamental indicators – Germany Retail Sales came out at 0.9%, better than analyst estimates of -0.3% and improving upon the previous reading of -1.4%.
At the same time, mixed performances are seen elsewhere as Dow Jones gained 2.59% and is currently trading at 32,862. S&P 500 is up 2.46% to 3,901. Nasdaq soars 2.87% to trade around 11,100.
Upcoming fundamentals: Euro Zone Consumer Price Index is expected today at 10:00 UTC.