Closing Bell | Tech analysis points to new bearish phase for the DAX as it runs out of steam around 15,600

• Upper Bollinger Band® currently at 15,800

The DAX continues a 6 day uptrend, gaining a total of 4.27%. Thursday's session pointed in the same direction — the DAX rose 79.83 points to close at 15,600 Thursday which makes for a move of 0.5%.

The DAX hit a significant low of 15.42 around 6 months ago, but has since recovered 100,550%.

DAX's upper Bollinger Band® is at 15,800, this is a slight indication of a slowdown.

After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest the DAX is set for a reversal in the coming days.

The DAX shows positive signs, other assets are also on par: FTSE added 1.03% and closed around 7,663 Thursday. KOSPI Composite Index went up by 1.27% Thursday, and closed at 2,490.41. Nasdaq went up by 0.76% Thursday, and closed at 12,100.