| 
February 22, 2023
- The DAX's upper Bollinger Band® is at 15,638 which indicates a further downward move may follow.
While trading sideways for 8 days, Today's session suggests a further slowdown — the DAX is down to 15,378, after ending yesterday at 15,400. Overall, a 0.13% loss or 22.03 points today.
The index has been trending positively for about 2 months. The DAX has recovered 99,755% since descending to a significant low of 15.42 around 5 months ago.
DAX's upper Bollinger Band® is at 15,638 which indicates a further downward move may follow.
Overall, the technical analysis landscape suggests that on the balance of probability, the DAX is expected to maintain its bearish bias.
Fundamental indicators – highly important Business Climate Index data from Germany beat analyst expectations of 91.4 with a reading of 91.1.
In the meantime, negative performances are also seen in other markets, Dow Jones closed at 33,130 (down 2.06%). KOSPI Composite Index is down to 2,417.68, losing 41.32 points, after closing at 2,459 in the preceding trading session. After ending yesterday's session at 4,079, S&P 500 lost 81.66 points and is trading around 3,997.34.
Upcoming fundamentals: Euro Zone Consumer Price Index figure is projected at 8.6%. It previously stood at 8.5%; data will be released tomorrow at 10:00 UTC.
