03, June 2016

Dax (a 4-hour chart)

Dax (a 4-hour chart)

General overview

On Thursday, the European stock indexes showed a mixed background. Investors were cautious before the monthly decisions of the European Central Bank and preferred to stay away from any serious actions. The index grew by 0.03% during the European session.

Current situation

The market is still bearish. Yesterday the index tested the strong support of 10175. DAX 30 consolidated above the support 10175.. The resistance is at the level of 10350, the support is at 10175.

MACD indicator is in a positive area. The histogram is below the signal line. The MACD is declining, the signal is bearish. RSI approached the oversold level of 30.

Trading recommendations

The pair can grow to the resistance level of 10350. After breaking 10350 the buyers may go to 10520.