Irresistible DAX Jump Puts Index in Overbought Territory: ChartBy
The five-day rally that propelled the DAX Index into a bull market may have been too quick to hold. The German gauge’s relative strength index hit 70, a level that technical analysts call overbought and that may presage declines. The last time the measure of market momentum reached that level in November, the DAX tumbled 14 percent in the following three months.
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