29, July 2016

Dax (a 4-hour chart)

Dax (a 4-hour chart)

General overview

The DAX showed mixed trading dynamics as investors evaluated the corporate reports for the last quarter.

Current situation

The overall outlook remained bullish, the DAX resumed its growth after a short consolidation below 10350. The resistance is at 10350, the support stands at 10175.

The indicators recommend long positions. MACD is in the positive area. The histogram grew which indicates the buyers’ positions strength. RSI entered the overbought area which is a buy signal.

The 50, 100 and 200 EMAs are moving upwards in the 4 hours chart.

Trading recommendations

We are short term bullish. A break above the current resistance at 10350 will aim the price at the 10520 level.