10, June 2016

Dax (a 4-hour chart)

Dax (a 4-hour chart)

General overview

The European stock indexes declined two days in a row. The concerns about the future of the global economy continued to pressure investors. Mario Draghi (head of the European Central Bank) urged leaders to support the Eurozone economy.

Current situation

The index decreased yesterday. The price fell from 10226 to the mark 10023. The resistance comes at 10175, the support is at 1000. MACD is in the negative area and gives a sell signal. RSI is close to the oversold area. The index fell through Moving Averages 50 and 200. Moving Average 100 stopped is decrease.

Trading recommendations

We expect the decrease shall be continued. Sellers seem to want seeing the price at the level of 9760.