DAX30

DAX30

23 November 2017, 12:17
Dragan Drenjanin
0
12

DAX 30 : A consolidation towards the supports is likely

Date of analysis 23 November 17


INDICATOR

  • Opinion Short Term Neutral
  • Resistance 1 13546.02PTS
  • Support 1 12659.23PTS
  • Opinion Mid Term Bullish
  • Support 2 12481.87PTS
  • Resistance 2 13723.38PTS




STRATEGY
As long as 13723.38 PTS continues to be a resistance, the movement may join 12659.23 PTS over the short term. The surpassing of 13723.38 PTS would invalidate this opinion and open the door for 14078.1 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. The RSI value is less than 50: this confirms the weakness of prices. 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 12958.91: 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 12659.23 PTS and 12481.87 PTS. The resistances are at 13546.02 PTS and 13723.38 PTS.
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