Dax (a 4-hour chart)
European shares opened higher on Monday on the news that SoftBank will acquire ARM Holdings (a smartphone chip designer).
The index was neutral on Monday. The DAX remained in a narrow side channel which is limited by the marks 10000 and 10090. The index seems to have found a solid support at the current level 10000. The resistance is at 10175, the support is seen at 10000.
MACD decreased which indicates the buyers’ positions weakening. The indicator still gives a buy signal. RSI is close to the overbought area which is a buy signal.
The price is at the 50-EMA in the 1 hour chart. The moving averages (50, 100 and 200) are moving upwards.
We may expect the trades between the levels of 10175 and 10000.