DAX (a 4-hour chart)
The DAX index traded higher on Tuesday. The growth of chemistry-related shares supported the European stocks.
The price jumped in the Asian session on Tuesday. The DAX index traded near previous week high. The index seems to have found a decent resistance near the 10470 region. The 200-EMA limits its further growth. The instrument stopped a few pips below the line. The 50-EMA is crossing the 100-EMA downwards and is about to cross the 200-EMA in the 4 hours chart. The resistance is seen at 10520, the support lies at 10350.
MACD remained in the negative area. MACD grew which indicates the sellers’ positions weakening. RSI is within the neutral territory. The oscillator advanced north.
A move above 10470 will lead the price to 10520. A break above this level risks a further growth towards 10600. Alternatively, if we see a close below 10350 we will sell. Sellers’ targets are the marks 10250 and 10175.