Technical analytics

DAX

DAX

DAX traded mixed on Wednesday. The index was growing the first part of the day. Buyers drove the rate from 12560 to the 12700 area. The up-move, however, lacked any strong follow-through momentum. The benchmark got under sellers’ control and returned to full bearish mode. The price pushed away from 12700 and dropped to the 12570 region. The moving averages are giving mixed signals. MACD is declining in the negative area. RSI is stable around 50. The resistance stands at 12600, the support is at 12500.   

Sellers remained in control and the doors remain open for a sell-off to 12500.