Dax (a 4-hour chart)
The Germany Bonds Market strengthened on Wednesday. The software, basic resources and technology sectors grew most of all. The leaders of growth among DAX 30 were the shares of Volkswagen which rose by 6.01%.
The index closed bullish on Wednesday. DAX was able to gain about 1,62%. The session high is marked at 10135. The price approached the level it was not able to break two days ago. The resistance is at 10175, the support is seen at 1000.
MACD grew which indicates the buyers’ strength. The indicator gives a buy signal. RSI is close to the overbought area which is a buy signal.
The price broke the 50 and 100 EMAs in the 1 hour chart. The moving averages (50, 100 and 200) are moving upwards.
The mark 10135 seems to be a solid resistance for the index. We assume it will bounce downwards back to 1000. Alternatively, the quotes will grow to 10175.