DAX40 PERF INDEX - Recorded an Almost 2-Year High! - 02/13/2017 (GMT)
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DAX40 PERF INDEX Chart
The German DAX30 was moving higher until last week’s session which it snapped an eight weekly winning streak and plunged more than 1.3%. The index printed an aggressive rally to the upside after it exited from the consolidation area 10160 – 10830 and printed almost two-year new high at 11895.
The moving averages are pointing upwards endorsing the bullish move, as well as the RSI indicator is sloping to the upside after the bounce off the 50 level. The stochastic oscillator has just entered the overbought area indicating further upward price action. The next level to watch is the aforementioned fresh high at 11895 and if the price manages to surpass above it, the bulls will push the DAX30 until the 12414 resistance barrier. An alternative scenario is a penetration of the 11420 support level which will drop the price until the 11132 barrier.
The moving averages are pointing upwards endorsing the bullish move, as well as the RSI indicator is sloping to the upside after the bounce off the 50 level. The stochastic oscillator has just entered the overbought area indicating further upward price action. The next level to watch is the aforementioned fresh high at 11895 and if the price manages to surpass above it, the bulls will push the DAX30 until the 12414 resistance barrier. An alternative scenario is a penetration of the 11420 support level which will drop the price until the 11132 barrier.
This member did not declare if he had a position on this financial instrument or a related financial instrument.
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