The Hourly View for DAX
Last Updated June 17, 2021, 02:020 GMT
At the moment, DAX’s price is up 15 (0.1%) from the hour prior. DAX has seen its price go down 4 out of the past 5 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 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 100 hour changed directions on DAX; it is now pointing up. 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 15710.57 US dollars, down 0.12% (18.95) since the day prior. Out of the 14 instruments in the equity indices asset class, DAX ended up ranking 5th for the day in terms of price change relative to the day prior. Here is a daily price chart of DAX.
DAX Technical Analysis
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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days DAX’s price has gone up 7 them.