BEI.DE dominated by bulls lifting the market higher throughout the day


Technical Analysis Report for BEI.DE - May 17, 2018 [< 1 min read]
Highlights
BEI.DE pushes through key resistance level
BEI.DE dominated by bulls lifting the market higher throughout the day
BEI.DE closes higher for the 2nd day in a row
BEI.DE ends the day on a bullish note closing near the high of the day
BEI.DE pushes through previous session high
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, BEI.DE finished Thursday at 98.16 gaining €0.70 (0.72%). Today's closing price of 98.16 marks the highest close since January 9th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 97.60, the market confirms its breakout through the prior session's high having traded €0.70 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 BEI.DE
Volatility

Thursday's trading range was €1.26 (1.3%), that's slightly above last trading month's daily average range of €1.12. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.

Support/Resistance

Breaking through the key resistance level at 97.66 today, it is now likely to act as support going forward.

Trend

Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.

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.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Price broke through Technical Resistance R1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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