DAX 30 wait for a test of the support

DAX 30 wait for a test of the support

16 March 2018, 09:49
Dragan Drenjanin

Wait for a test of the support

Opinion Short TermPositive
Resistance 112813.91PTS
Support 111693.54PTS
Opinion Mid TermBearish
Support 211533.49PTS
Resistance 212973.97PTS


Above 11533.49 PTS the DAX 30 is heading toward 12813.91 PTS over the short term. Below 11533.49 PTS the movement would reverse and then correct toward 11373.44 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 more 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 12732.09: 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 12813.91 PTS and 12973.97 PTS. The supports are at 11693.54 PTS then at 11533.49 PTS .

Follow my TOR signal

Good luck !

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