DAX PERFORMANCE-INDEX (.GDAXI) looks to continue gains
It was a week of two halves, as the DAX dropped in the first half before rallying from a Tuesday low. However, since then, gains have stalled at 12,400, so if this remains in place a lower low has been established.
A push below 12,300 would renew the bearish move seen at the beginning of last week, and target 12,180 and below in the short-term. A rally back above 12,400 brings 12,480 into view, and then a push on to 12,600.
Overall, the bias in prices is: Upwards.
By the way, prices are vulnerable to a correction towards 12,188.34.
The projected upper bound is: 12,791.20.
The projected lower bound is: 12,070.51.
The projected closing price is: 12,430.85.
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 31 white candles and 19 black candles for a net of 12 white candles.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
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 70.9393. This is not an overbought or oversold reading. The last signal was a sell 10 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 61.48. 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 buy 38 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 50. This is not a topping or bottoming area. The last signal was a buy 2 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 4 period(s) ago.
Rex Takasugi – TD Profile
XETRA DAX PF closed up 47.140 at 12,428.080. Volume was 20% below average (neutral) and Bollinger Bands were 24% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 12,366.92 12,047.48 11,779.62
Volatility: 10 19 18
Volume: 85,141,832 88,736,760 89,858,400
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 5.5% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into .GDAXI (mildly bullish). Our trend forecasting oscillators are currently bullish on .GDAXI and have had this outlook for the last 20 periods.