DAX Technical Analysis

DAX Technical Analysis

The index is testing the resistance at points 10750. Faillure to break above would give a negative reaction. The index is assessed as technically negative for the medium long term. The index is between the support at points 10510 and the resistance at points 10740. A definitive break through of one of these levels predicts the new direction. RSI diverges negatively against the price, which indicates a danger for a reaction down.

On the upside, with further strength the August 15th high at 10806 should be hurdled and a move to the December 2015 pivot along with the top-side parallels in place for much of the year (10876/11000) will become the risk.

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