DAX40 PERF INDEX
DAX40 PERF INDEX
- EUR (-)
- 15 min delayed data - Germany Indices
Open: -
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Type: Indices
Ticker: DAX
ISIN: DE0008469008

DAX40 PERF INDEX - Bulls Push The Price Higher - 02/20/2017 (GMT)

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  • Timeframe : Daily

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German DAX 30 Index (.DE30Cash) after being in a range between 11,420 and 11,695 for few weeks, it had a failed attempt to surpass the 11,895 strong resistance level. After its try, the German index found support near the 50-SMA, on the daily chart, and now is in the process for the second the second attempt.

If the bulls manage to push the price above the aforementioned strong resistance level at 11,895, the next target will be the 12,060. Otherwise, if the price slips below the 11,695 barrier, which provided significant support to the pair and the 50-SMA, on the daily, chart, we may see a drop towards the 11,420 support level. The technical indicators are endorsing our bullish scenario, as MACD is rising in the positive territory while RSI is also rising towards the 70 level.
This member did not declare if he had a position on this financial instrument or a related financial instrument.

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