07, June 2016

Dax (a 4-hour chart)

Dax (a 4-hour chart)

General overview

The news that the USA might not raise the rates this summer became an important driver of optimism on global bonds markets. The European stock markets closed in the green zone, supported by growth of shares of energy and raw material producers.

Current situation

The index DAX 30 remained in a flat. The index was traded between the levels of 10077 – 10158. The resistance is at 10175, the support come in at 10000.

The indicator MACD is in a negative area. The MACD signal line is in the histogram. The indictor kept decreasing yesterday. RSI reached the oversold level of 30 and bounced off it.

Trading recommendations

The index can grow to the resistance level of 10175. After breaking 10175 the buyers may go to 10350.