Dax (a 4-hour chart)
The German stock market grew due to the technology, the chemical industry and telecommunications sectors strengthening. Deutsche Bank was the leader of a growth (among the DAX 30 index), its shares rose by 3.62%.
The index was strong, its bullish tone persisted yesterday. The DAX30 started a day with a gap upwards and set a fresh local high at 10100. The resistance is at 10175, the support is seen at 1000.
The MACD histogram is in the positive area. If MACD remains in the positive territory, buyers’ positions will strengthen. RSI came out from the overbought area and moved downwards that also supports sellers.
The 50-EMA touched the 100-EMA in the 4 hours chart. The 50-EMA and 100-EMA direction is downwards which is a buy signal. The 200 EMA is neutral.
The downward bounce potential targets are 10000 and 9750.