DAX PERFORMANCE-INDEX (.GDAXI) gradually regaining ground after sharp decline
The DAX has been gaining ground after a sharp decline into the 76.4% Fibonacci support level.
There is a risk that this rally could falter given the slow ascent we are currently seeing. However, a significant bearish picture would require a break below 12,193, which would complete a head and shoulders formation. Otherwise, a bullish short-term bullish picture remains unless price falls below the 12,353 support level.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 12,713.47.
The projected lower bound is: 12,128.61.
The projected closing price is: 12,421.04.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 42.9527. This is not an overbought or oversold reading. The last signal was a buy 9 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 53.31. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 59 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 57. This is not a topping or bottoming area. The last signal was a buy 5 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 13 period(s) ago.
Rex Takasugi – TD Profile
XETRA DAX PF closed down -2.431 at 12,417.470. Volume was 27% below average (neutral) and Bollinger Bands were 29% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 12,376.24 12,240.46 11,631.35
Volatility: 15 15 18
Volume: 81,885,672 88,604,008 92,821,016
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
XETRA DAX PF is currently 6.8% above its 200-period moving average and is in an downward trend. Volatility is Our volume indicators reflect volume flowing into and out of .GDAXI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .GDAXI and have had this outlook for the last 1 periods.
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