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April 30, 2023
- The CCI indicator stands above +100
- Upper Bollinger Band® currently at 16,100
The DAX continues a 12 day uptrend, gaining a total of 6.44%. The DAX lived up to expectations Friday by maintaining its set course — the DAX rose 122.38 points to close at 15,922 Friday which makes for a move of 0.77%.
The index has been trending positively for about a month. The DAX hit a significant low of 15.42 around 7 months ago, but has since recovered 102,367%.
Trend and momentum analysis indicates 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 the DAX's upper Bollinger Band® is at 16,100, this is a slight indication of a slowdown.
Notwithstanding the DAX's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
The DAX shows positive signs, other assets are also on par: notably, Nikkei rose 1.4% Friday and closed at 28,458. Notably, Dow Jones rose 0.8% Friday and closed at 33,826. Notably, FTSE rose 0.5% Friday and closed at 7,831.58.
