After the Bell | Mixed technical outlook for the DAX despite basking in bullish intraday sentiment

• The CCI indicator stands above +100
• The lower Bollinger Band® is currently at 15,100 while the higher band is at 15,877

The sentiment that generated 770 points in cumulative gains over the past 7 days was further evident for the DAX. On-trend the DAX closed the session today with more of the same: the DAX rose 70.54 points to close at 15,800 today which makes for a move of 0.5%.

The index has been trending positively for about a month. The DAX hit a significant low of 15.42 around 6 months ago, but has since recovered 101,900%.

Trend-following investors would be interested to note that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at 15,877, thereby suggesting that the DAX is becoming overvalued.

Notwithstanding the DAX's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Fundamental indicators – Germany Consumer Price Index came out at 0.8%, while a consensus of analysts was expecting 0.8%.

The DAX shows positive signs, other assets are also on par: Nikkei is trading around 28,500 after ending today's session at 28,157 (up 1.2% today). ASX 200 is trading around 7,361.6 after ending today's session at 7,324 (up 0.51% today). FTSE increases 0.36% today and closed at 7,843.38.

Upcoming fundamentals: Germany Buba President Nagel speech set for today at 18:15 UTC.