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June 10, 2023
- The DAX's upper Bollinger Band® is at 16,232 which indicates a further downward move may follow.
Having fallen 173.4 points in 3 days, Yesterday's session continued down the same path: the DAX ended yesterday at 15,950 following from closing Thursday at 16,000. Overall, this represents a loss of 50.16 points or 0.25%.
The index has been trending positively for about 2 months. The DAX hit a significant low of 15.42 around 8 months ago, but has since recovered 103,600%.
DAX's upper Bollinger Band® is at 16,232 which indicates a further downward move may follow.
Looking forward, the DAX is poised to extend its strong downtrend and continue declining.
Fundamental indicators – Euro Zone CFTC EUR speculative net positions released yesterday at 20:30 UTC with a figure of 158,400, while the previous figure was 165,700.
In the meantime, negative performances are also seen in other markets, after ending yesterday's session at 7,599.74, FTSE lost 37.38 points and is trading around 7,562.36.
Positive performances can be seen by looking at other markets as Nikkei added 1.97% and closed around 31,641 yesterday. KOSPI Composite Index is trading around 2,641 after ending yesterday's session at 2,611 (up 1.16% today).
