After the Bell | The DAX forecast to explore further downside

• The MACD line is significantly above the MACD signal line
• The DAX's upper Bollinger Band® is at 16,369 which indicates a further downward move may follow.

The DAX goes down 0.55% to close at 16,100 yesterday.

The index has been trending positively for about 3 months. The DAX is up 104,966% from the significant low of 15.42 it hit 9 months ago.

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 16,369 which indicates a further downward move may follow.

Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for the DAX.

Fundamental indicators – data from Germany concerning Producer Price Index was released yesterday at 06:00 UTC. Newly published figures emphasized continued decline from last month's figure of 0.3% to -1.4% this month.

In the meantime, negative performances are also seen in other markets, Hang Seng is down to 19,235, losing 364.78 points, after ending the previous session around 19,600. Dow Jones stumbles 0.72% yesterday and closed at 34,300. KOSPI Composite Index lost 0.69% yesterday and closed at 2,605.

Upcoming fundamentals: Germany Buba President Nagel speech is scheduled tomorrow at 12:05 UTC.