DAX 30

DAX 30

6 December 2017, 08:31
Dragan Drenjanin

DAX 30 : Under these resistances, a consolidation is likely
Date of analysis 06 December 17

Opinion Short Term Negative
Resistance 1 13458.6PTS
Support 1 12665.53PTS
Opinion Mid Term Bullish
Support 2 12467.26PTS
Resistance 2 13656.87PTS

Below 13458.6 PTS the major trend remains bearish 12665.53 PTS and then 12467.26 PTS are in the line of sight. The surpassing of 13458.6 PTS would cancel this anticipation and favor a recovery toward 13656.87 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 more than the average volumes over the last 10 days.

After a recent high at 13382.4 PTS the index corrected towards the 50-day moving average 13042.15: 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 12665.53 PTS and 12467.26 PTS. The resistances are at 13458.6 PTS and 13656.87 PTS.

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