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

DAX Performance-Index (DAX) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team


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


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 Candlestick Chart (DAX as at May 17, 2018):

Daily technical analysis candlestick chart for DAX Performance-Index (DAX) as at May 17, 2018

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.

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

With five out of the other five Major European Indices closing higher today, the ones that stand out on the positive side are BEL20 gaining 1.06% and CAC closing 0.98% higher. None of the markets ended the day in the red. Read more

Market Conditions for DAX as at May 17, 2018

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