DAX (DAX) Makes Big Move Relative to Two Week Trend, Down 1.78%; Crosses 20 Day Moving Average

The Hourly View for DAX

Last Updated June 21, 2021, 01:011 GMT

At the moment, DAX’s price is down -6.01 (-0.04%) from the hour prior. DAX has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. 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 and 10 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 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 choppiness in the recent daily price action of DAX continues; to start today, it came in at a price of 15448.04 US dollars, down 1.78% (279.63) since the previous day. Out of the 14 instruments in the equity indices asset class, DAX ended up ranking 10th for the day in terms of price change relative to the previous day. Here is a daily price chart of DAX.


DAX Technical Analysis

Moving average crossovers are always interesting, so let’s start there: DAX crossed below its 20 day moving average yesterday. 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. 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. For another vantage point, consider that DAX’s price has gone up 15 of the previous 30 trading days.