DAX PERFORMANCE-INDEX (.GDAXI) slip as investors weigh outlook for US-China trade
Stock markets weakened during European trading on Monday as investors weighed the possibility of more U.S. tariffs on China and the outlook for negotiations on the trade dispute.
A Chinese official said that Beijing wants a prompt settlement of its trade war with Washington as another U.S. tariff hike on $160 billion of Chinese imports is due to take effect Sunday. China announced Friday it was carrying out a promise to waive punitive tariffs on American soybeans and pork.
France’s CAC 40 slipped 0.4% in midday trading to 5,850, while Germany’s DAX declined 0.2% to 13,145. Britain’s FTSE 100 lost 0.1% to 7,232.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 13,439.61.
The projected lower bound is: 12,800.59.
The projected closing price is: 13,120.10.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white 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 50.3520. This is not an overbought or oversold reading. The last signal was a buy 3 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 51.37. 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 18 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 -32. This is not a topping or bottoming area. The last signal was a buy 3 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 17 period(s) ago.
Rex Takasugi – TD Profile
XETRA DAX PF closed down -60.970 at 13,105.610. Volume was 39% below average (neutral) and Bollinger Bands were 59% 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: 13,142.70 12,878.15 12,239.15
Volatility: 16 16 16
Volume: 69,124,952 78,604,216 87,099,312
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 7.1% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 5 periods.
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