20, June 2016

Dax (a 4-hour chart)

Dax (a 4-hour chart)

General overview

The major stock indexes rose in the European session and spent Friday in the "green zone", reducing weekly drop. The index DAX30 grew amid easing concerns about a potential exit of Great Britain from the European Union (Brexit).

Current situation

The index was recovering the whole Friday. DAX gained 0.85% by the end of trades. The resistance comes at 9760, the support is at 9550.

MACD is in the negative area. The histogram grew, we received a buy signal from MACD. RSI is in a neutral zone giving no signal. The Moving Averages (50, 100 and 200) are moving downwards.

Trading recommendations

The index can recover further to 9760. If DAX consolidates above 9760 it may grow to 1000.