The Hourly View for DAX
Last Updated January 12, 2021, 02:020 GMT
At the time of this writing, DAX’s price is down -3.01 (-0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
DAX Daily Price Recap
DAX is down 0.8% (112.87) since the previous day, marking a reversal from the day prior — and the end of a 3 day positive run. Relative to other instruments in the equity indices asset class, DAX ranked 11th since the previous day in terms of percentage price change. The daily price chart of DAX below illustrates.
DAX Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 8 out of the past 14 days.