- The MACD line is significantly above the MACD signal line
- Upper Bollinger Band® currently at 14,279
7 days and 1,094.67 points of gains are not enough for the DAX. Consistent for now — after closing the previous trading day at 14,225, the DAX is up to 14,344, which makes for a move of 0.84%/119.03 points today.
The index has been trending positively for about a month. The DAX hit a significant low of 15.42 around a month ago, but has since recovered 92,149%.
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 14,279, this is a slight indication of a slowdown.
Technical analysis of the DAX price action suggests it is likely to undergo a short-term reversal amid broader bullish sentiment.
Fundamental indicators – data for Euro Zone Industrial Production released today at 10:00 UTC is better than expected with 0.9%, but worse than previous figure of 2%.
Other markets are also showing gains as having closed the previous session at 7,318, FTSE is up 1.03% today to currently trade at around 7,393.37. Hang Seng moves up 1.7% to trade around 17,620.
At the same time, Nikkei is down to 27,963, losing 300.1 points, after closing at 28,264 in the preceding trading session.
Upcoming fundamentals: Germany ZEW Economic Sentiment Index figure is projected at -50. It previously stood at -59.2; data will be released tomorrow at 10:00 UTC.