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 [< 1 min read]
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
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Intraday Reversal TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Bullish Break through SMA 100 TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Bullish Bounce off SMA 100 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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