07, July 2016

Dax (4-х часовой график)

Dax (4-х часовой график)

General overview

Most European stock indices fell yesterday due to a new wave of concerns about the global economy after Brexit.

Current situation

The index spent the day in a red zone. DAX30 lost about 1.67% during the trades. The price fell from 9515 and stopped at the mark 9287. This level seems to be a hard barrier for the index as it has been bounced from it many times. The resistance comes at 9550, the support exists at 9400.

MACD remained in the negative area. The indicator will be bearish until it leaves the negative zone. RSI bounced from the overbought area. If the signal line grows further it will be a buy signal.

The moving averages (50, 100 and 200) are moving downwards in the 4 hours chart. The 200 and 100 EMAs direction is horizontal in the 1 hours chart. The 50-EMA has broken the 200 and 100 EMAs downwards.

Trading recommendations

The break above 9500 will strengthen buyers’ positions. The price may grow to 9550. Alternatively DAX will decrease to 9250.