DAX closes within previous day's range
DAX Performance-Index (DAX) Technical Analysis Report for May 19, 2020 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, DAX finished Tuesday at 11075.29 edging higher €16.42 (0.15%). Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range.
Daily Candlestick Chart (DAX as at May 19, 2020):
Tuesday's trading range has been €265.11 (2.37%), that's slightly above the last trading month's daily average range of €221.78. Weekly volatility is also higher, being above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for DAX.
While the market is experiencing a short-term uptrend, this might just be a correction, as both the medium and long-term trends are still bearish.
Further buying could move prices higher should the market test April's close-by high at 11235.57.
With four out of the other five Major European Indices closing lower today, the ones that stand out on the negative side are BEL20 losing -2.17% and CAC closing -0.89% lower. On the flipside the best performer has been TECDAX closing 0.46% higher. Read more