DAX (DAX) Down 0.34%, Nears 20 Day Moving Average; Pin Bar Pattern Appearing on Chart

The Hourly View for DAX

Last Updated June 29, 2021, 01:014 GMT

At the time of this writing, DAX’s price is down -4.01 (-0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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

The back and forth price flow continues for DAX, which started today off at 15554.18 US dollars, down 0.34% (53.79) from the previous day. Relative to other instruments in the equity indices asset class, DAX ranked 7th since the previous day in terms of percentage price change. Here is a daily price chart of DAX.

DAX

DAX Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 14 days DAX’s price has gone up 7 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!