22, June 2016

Dax (a 4-hour chart)

Dax (a 4-hour chart)

General overview

The European Bonds Markets showed mixed trades on Tuesday. The investors are nervousness the day before the referendum in the UK.

Current situation

The DAX index continued its recovery and was able to break the resistance 1000. The quotes ended the day at 10070. The resistance comes at 10175, the support is at 1000.

MACD is in the positive area. The histogram grew, we received a buy signal from MACD. RSI approached the overbought area. If the oscillator bounces back that will be a sell signal. If RSI enters the overbought area we will get a buy signal. The Moving Averages (50, 100 and 200) are below the price. The 100-SMA and 200-SMA work as a support.

Trading recommendations

If DAX30 fixates above 10100 the index may grow to 10175. Otherwise the price will drop to 1000.