DAX 30

DAX 30

1 December 2017, 10:40
Dragan Drenjanin

DAX 30 : The bearish trend can resume
Date of analysis 01 December 17


  • Opinion Short Term Negative
  • Resistance 1 13447.38PTS
  • Support 1 12812.6PTS
  • Opinion Mid Term Bullish
  • Support 2 12653.91PTS
  • Resistance 2 13606.07PTS

Below 13447.38 PTS the major trend remains bearish 12812.6 PTS and then 12653.91 PTS are in the line of sight. The surpassing of 13447.38 PTS would cancel this anticipation and favor a recovery toward 13606.07 PTS.

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.

After a recent high at 13478.9 PTS the index corrected towards the 50-day moving average 13018.01: 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 12812.6 PTS and 12653.91 PTS. The resistances are at 13447.38 PTS and 13606.07 PTS.
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