DAX PERFORMANCE-INDEX (.GDAXI) starts to show signs of potential resurgence

DAX PERFORMANCE-INDEX (.GDAXI) starts to show signs of potential resurgence

DAX PERFORMANCE-INDEX (.GDAXI) starts to show signs of potential resurgence

The DAX has been drifting lower over the course of the week, with the index giving back some of the gains seen last Wednesday. However, this is likely to be a short-term phenomenon which ultimately resolves with a move higher for the index.

This hourly chart does highlight the break through trendline and horizontal resistance (13,461) which could pave the way for a resurgence today. As such, a bullish outlook is in play, with a decline back below 13,361 required to negate this view.

Technical Indicators

Overall, the bias in prices is: Upwards.

The projected upper bound is: 13,776.51.

The projected lower bound is: 13,268.42.

The projected closing price is: 13,522.47.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.

Momentum Indicators

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 78.1142. This is not an overbought or oversold reading. The last signal was a sell 0 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 60.09. 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 45 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 81. This is not a topping or bottoming area. The last signal was a sell 2 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 9 period(s) ago.

Rex Takasugi – TD Profile

XETRA DAX PF closed down -40.120 at 13,515.750. Volume was 8% below average (neutral) and Bollinger Bands were 27% narrower than normal.

Open     High      Low     Close     Volume___
13,601.65013,640.06013,498.03013,515.750 73,130,720
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 13,489.48 13,268.89 12,478.66
Volatility: 9 12 16
Volume: 69,531,536 74,942,928 85,026,696

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.

Summary

XETRA DAX PF is currently 8.3% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of .GDAXI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on .GDAXI and have had this outlook for the last 10 periods.

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