DAX (DAX) Heads Up For the 2nd Straight Day; Nears 20 Day Moving Average

The Hourly View for DAX

Last Updated June 28, 2021, 02:020 GMT

At the moment, DAX’s price is up 10.01 (0.06%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as DAX has now gone up 4 of the past 5 hours. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. 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

DAX is up 0.12% (18.74) since yesterday, marking the 2nd straight day it has gone up. Relative to other instruments in the equity indices asset class, DAX ranked 11th since yesterday in terms of percentage price change. The daily price chart of DAX below illustrates.

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 10 days DAX’s price has gone up 6 them.