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March 05, 2023
- The CCI indicator stands above +100
- Upper Bollinger Band® currently at 15,600
Having gone up 117.9 points over the past 6 days, Friday's session pointed in the same direction — the DAX improves 1.64% to close at 15,578 Friday.
The index has been trending positively for about 2 months. The DAX has fallen back around 1.61% from the significant high of 15,578 set 2 days ago.
Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as DAX price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that the DAX's upper Bollinger Band® is at 15,600, this is a slight indication of a slowdown.
Overall, while the DAX has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
The DAX shows positive signs, other assets are also on par: S&P 500 went up by 1.61% Friday, and closed at 4,045.64. Nikkei went up by 1.56% Friday, and closed at 27,927. Nasdaq ascends 1.97% Friday and closed at 11,463.
Upcoming fundamentals: Euro Zone Retail Sales is projected to outperform its last figure with 1%, having previously been at -2.7%. The figure will be published tomorrow at 10:00 UTC.
