DAX 30

DAX 30

28 November 2017, 14:03
Dragan Drenjanin
0
23

DAX 30 : The bearish trend can resume

Date of analysis 28 November 17



INDICATOR

  • Opinion Short Term Negative
  • Resistance 1 13540.89PTS
  • Support 1 12637.47PTS
  • Opinion Mid Term Bullish
  • Support 2 12456.79PTS
  • Resistance 2 13721.57PTS

STRATEGY
Below 13540.89 PTS the major trend remains bearish 12637.47 PTS and then 12456.79 PTS are in the line of sight. The surpassing of 13540.89 PTS would cancel this anticipation and favor a recovery toward 13721.57 PTS.

SUMMARY
The MACD is negative and lower than its signal line. This configuration is damaging the index perspectives. The RSI is not yet indicating an oversold situation, so a continuation of the fall is technically possible. 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 12987.9: 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 12637.47 PTS and 12456.79 PTS. The resistances are at 13540.89 PTS and 13721.57 PTS.
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