DAX (a 4-hour chart)
European shares traded mixed on Friday despite the improved sentiment after the US Presidential elections, focus begins to turn back to Brexit.
DAX traded mixed on Friday. Prices stayed in a narrow range between levels 10700 and 10600. The index oscillated between those levels, but couldn't break any of them. DAX touched several times the 50-EMA but bounced upwards from the moving. The moving averages maintained a neutral tone. The resistance is seen at 10700, the support is at 10600.
The indicators were in extreme overbought levels. MACD remained at the same level which confirms the strength of buyers. The RSI indicator is near overvalued territory, favoring a new move lower.
A break below 10600 would indicate that immediate upward pressure eased. In this scenario bears will drive prices to 10500.