08, June 2016

Dax (a 4-hour chart)

Dax (a 4-hour chart)

General overview

Dax 30 index rose when Janet Yellen (the Chairman of the Federal Reserve System) expressed her positive comments regarding the US economy.

Current situation

The index grew yesterday. Buyers could reach the mark 10318 where the index stopped and started a consolidation. The resistance comes at 10350, the support is at 10175.

MACD is on the centerline, giving no signals. RSI approached the overbought level of 70.

Trading recommendations

We expect a decrease. The break below 10175 should send this market looking for the 1000 level.