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March 11, 2023
- The DAX's upper Bollinger Band® is at 15,700 which indicates a further downward move may follow.
Over the last 5 days, the DAX has fallen 1.44%. Yesterday's session continued the recent downtrend: the DAX stumbles 1.31% to close at 15,428 yesterday.
The index has been trending positively for about 2 months. The DAX hit a significant low of 15.42 around 5 months ago, but has since recovered 101,283%.
DAX's upper Bollinger Band® is at 15,700 which indicates a further downward move may follow.
In the short term, the DAX is expected to maintain its recent downtrend and continue spiralling lower.
Fundamental indicators – Germany Consumer Price Index released yesterday at 07:00 UTC with a figure of 8.7%, while the previous figure was 8.7%.
In the meantime, negative performances are also seen in other markets, ASX 200 is down to 7,144.7, losing 166.3 points, after ending the previous session around 7,311. After ending yesterday's session at 19,926, Hang Seng lost 605.82 points and is trading around 19,320. After ending yesterday's session at 7,880, FTSE lost 131.65 points and is trading around 7,748.35.
