DAX (DAX) 2 Day Up Streak Broken, Nears 20 Day Moving Average; Pin Bar Pattern Appearing on Chart

The Hourly View for DAX

Last Updated June 29, 2021, 02:020 GMT

Currently, DAX’s price is down -4.01 (-0.03%) 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 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

DAX entered today at 15554.18, 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. 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. For additional context, note that price has gone up 6 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.