Technical analytics

DAX

DAX

The tone is still negative in the market. DAX faced further downside pressure yesterday. Sellers broke 11500 and formed a lower low at 11400. The index lost downward strength over there and jumped to 11500. MACD remained in the negative territory. The RSI consolidated within oversold levels. The moving averages kept heading lower. The resistance stands at 11500, the support is at 11400.   


A bounce off 11400 pointed to strong buyers who are defending this area. Sellers apparently need to gather steam, if they want to remain in the driver's seat. They may pull back to the 11600 region now.


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