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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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Disclaimer: This technical analysis is intended to provide general information and does NOT constitute the provision of INVESTMENT ADVICE. Investors and traders should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
TCResearch guarantees neither the entirety nor accuracy of the analysis. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. TCResearch is not responsible for any loss, either directly or indirectly, which arises as a result of the use of TCResearch analyses. Details of any arising conflicts of interest will always appear in the investment recommendations.

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