Asset Watch
Tuesday, January 3, 2023
For one, the latter ended 2022 below its 50, 100 and 200-day moving averages, while the former remains above its 100 and 200-day MAs, and ended the Dec. 30 session only slightly below its 50-day MA. On top of that, the August closing high and the 50-day MA have provided resilient support, despite the volatility that emerged in mid-December.
Therefore, the only caveat is that the DAX Index’s MACD indicator still sports a sell signal, which will hold more weight if confirmed breakdowns below these key levels occur.
So, should you continue to ride the hot hand, or play the contrarian in 2023?