06, September 2016

DAX (a 4-hour chart)

General overview

European stocks traded higher on Monday as markets digested Friday's disappointing U.S employment report.

Current situation

DAX traded close to the recent highs and spent the day in the 10700 region. The price slightly grew above previous week’s top in the European session and decreased in the American one. The resistance is seen at 10700, the support lies at 10520.

MACD is in the positive area. RSI is close to the overbought area.  

Trading recommendations

The index may decrease to 10520 soon. If the price breaks the level the downward movement may continue to 10350. Controversially, the instrument will grow above 10700.