DAX 30

DAX 30

29 November 2017, 09:45
Dragan Drenjanin
0
16

DAX 30 : Under these resistances, a consolidation is likely
Date of analysis 29 November 17



INDICATOR
Opinion Short Term Negative
Resistance 1 13353.14PTS
Support 1 12624.65PTS
Opinion Mid Term Bullish
Support 2 12442.52PTS
Resistance 2 13535.26PTS

STRATEGY
Below 13353.14 PTS the major trend remains bearish 12624.65 PTS and then 12442.52 PTS are in the line of sight. The surpassing of 13353.14 PTS would cancel this anticipation and favor a recovery toward 13535.26 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 12998.71: 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 12624.65 PTS and 12442.52 PTS. The resistances are at 13353.14 PTS and 13535.26 PTS.

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