DAX ends the day on a bullish note closing near the high of the day

DAX Index (DAX) Technical Analysis Report for May 17, 2018

Highlights

DAX rallies 0.91% closing €118.28 higher
DAX dominated by bulls lifting the market higher throughout the day
DAX closes higher for the 2nd day in a row
DAX ends the day on a bullish note closing near the high of the day
DAX pushes through previous session high

TQ Sentiment

Report Sentiment: 66% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, DAX ended Thursday at 13114.61 surging €118.28 (0.91%). This is the biggest single day gain in over a week. Today's closing price of 13114.61 marks the highest close since January 31st. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 13030.76, the index confirms its breakout through the prior session's high having traded €83.87 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for DAX

Volatility

Thursday's trading range was €132.74 (1.02%), that's above last trading month's daily average range of €111.13. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.

Market Conditions for DAX Index

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DAX pushes through previous session high

Sep 21, 2018
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