12 March 2018, 13:47
Dragan Drenjanin

Wait for a test of the support


Above 11536.7 PTS the DAX 30 is heading toward 12807.35 PTS over the short term. Below 11536.7 PTS the movement would reverse and then correct toward 11377.87 PTS.


The MACD is negative but is situated above its signal line: the trend is changing. Now, the MACD must clear zero for the rise to continue in the coming days. The main indicator of the movement's strength (RSI) shows that the technical situation is quite healthy, as it is not overbought. 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.


Since the recent low at 11913.7 PTS the index has been in a phase of technical recovery towards its 50-day moving average located at 12786.34: the price reaction on this level will allow us to envisage a continuation of the movement in the medium term. To alleviate this position, we could wait to test the short-term resistances located at 12807.35 PTS and 12966.18 PTS. The supports are at 11695.53 PTS then at 11536.7 PTS .

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