- 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 has just crossed the lower Bollinger Band® at 15,200, indicating further losses could be forthcoming.
In the last 10 days, the DAX has lost a total of 2.18% of its value. Similar trend today: the DAX ended yesterday's trading session by losing 0.72% and is now trading at 15,200.
The index has been trending positively for about 2 months. 5 months ago, the DAX fell to a low of 15.42 but has since recovered 99,154%.
DAX has just crossed the lower Bollinger Band® at 15,200, indicating further losses could be forthcoming. On the other hand, note that 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.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for the DAX.
Fundamental indicators – Germany Consumer Price Index came out at 8.7%, while a consensus of analysts was expecting 8.5%.
In the meantime, negative performances are also seen in other markets, after ending yesterday's session at 20,620, Hang Seng lost 190.25 points and is trading around 20,429. After ending yesterday's session at 7,234.25, CAC lost 44.68 points and is trading around 7,189.57.
Other assets are showing positive performances as KOSPI Composite Index rises 0.62% to trade around 2,428.
Upcoming fundamentals: Euro Zone Consumer Price Index is expected today at 10:00 UTC.