DAX30

22 November 2017, 12:01
Dragan Drenjanin
0
11

DAX 30 : The technical situation is largely uncertain

Date of analysis 22 November 17


INDICATOR

  • Opinion Short Term Negative
  • Resistance 1 13546.11PTS
  • Support 1 12481.42PTS
  • Opinion Mid Term Bullish
  • Support 2 12303.97PTS
  • Resistance 2 13723.56PTS



Market Dynamics Technical Analysis

STRATEGY
Below 13723.56 PTS the DAX 30 is evolving toward 12481.42 PTS over the short term. The clearing of 13723.56 PTS would invalidate this opinion and open the door for 13901.01 PTS.

SUMMARY
The MACD is positive but lower than its signal line. The dynamic in progress has been interrupted. If the MACD were to turn negative, the price correction could continue. Powerful indicators like the RSI, are not giving us any particular indications in the short term. The Stochastics indicators are not giving any clear signals for the coming days. The volumes traded are less than the average volumes over the last 10 days.

MOVEMENTS AND LEVELS
After a recent high at 13478.9 PTS the index corrected towards the 50-day moving average 12948.11: the price reaction on this level allows us to envisage a continuation of this movement in the medium term. The first buy points (or short-term supports) are at 12481.42 PTS and 12303.97 PTS. The resistances are at 13546.11 PTS and 13723.56 PTS.

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