The Hourly View for DAX
Last Updated June 17, 2021, 10:20 GMT
At the moment, DAX’s price is down -5 (-0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on DAX. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 50 hour changed directions on DAX; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
DAX Daily Price Recap
15710.57 was the closing price of the day for DAX, resulting in today being one in which price moved down 0.12% ($18.95) from the previous day. Relative to other instruments in the equity indices asset class, DAX ranked 5th since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of DAX.
DAX Technical Analysis
Volatility for DAX has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 6 out of the past 10 days.