DBEF runs into sellers around 30.32 for the third day in a row


Xtrackers MSCI EAFE Hedged Equity (DBEF) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team

Highlights

DBEF runs into sellers around 30.32 for the third day in a row
DBEF stuck within tight trading range
DBEF closes within previous day's range after lackluster session

Overview

DBEF finished the month 1.34% higher at 30.22 after losing $0.08 (-0.26%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.

Daily Candlestick Chart (DBEF as at Jun 30, 2020):

Daily technical analysis candlestick chart for Xtrackers MSCI EAFE Hedged Equity (DBEF) as at Jun 30, 2020

Tuesday's trading range has been $0.27 (0.9%), that's below the last trading month's daily average range of $0.40. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently lower than usual for DBEF. Prices continued to consolidate within a tight trading range between 29.96 and 30.39 where it has been caught now for the last three trading days.

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. Additionally, one bullish candlestick pattern matches today's price action, the White Candle.

Xtrackers MSCI ran into sellers again today around 30.32 for the third trading day in a row after having found sellers at 30.35 in the previous session and at 30.39 two days ago. The last time this happened on January 13th, DBEF actually gained 0.18% on the following trading day.

The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend still being bullish.

Selling could accelerate should prices move below the close-by swing low at 29.96 where further sell stops might get activated. As prices are trading close to June's low at 29.57, downside momentum could speed up should the ETF mark new lows for the month.

Among the five market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Low close to prior low" stand out. Its common bullish interpretation has been confirmed for Xtrackers MSCI. Out of 359 times, DBEF closed higher 54.32% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 58.22% with an average market move of 0.14%.


Market Conditions for DBEF as at Jun 30, 2020

Loading Market Conditions for DBEF (Xtrackers MSCI EAFE Hedged Equity)...
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