FDAX, D1

On D1 chart the instrument is trading in the upper part of Bollinger Bands. The indicator turned sidewards while the price range remains unchanged  indicating further correction of the instrument. MACD histogram is in the positive zone maintaining a weak buy signal. Stochastic has turned upwards at the border of the oversold area, a buy signal is relevant.

FDAX, H4

On H4 chart, the instrument is testing the moving average of Bollinger Bands, which is the key support level. The indicator is directed horizontally, while the price range has narrowed which is the reason for changes in the current trend. The 12434.0 mark is a strong support level, the breakdown of which will lead to the decline of FDAX to the range of 12315.0-12180.0. The key resistance level is 12640.0 mark. MACD histogram is in the positive zone maintaining the buy signal. Stochastic reversed downwards at the border of the overbought area, there is no signal for entering the market.

Key levels

Support levels: 12050.9, 12146.3, 12262.0, 12325.4, 12394.4, 12446.8, 12526.8.

Resistance levels: 12587.4, 12617.8, 12664.7, 12729.8.

Trading tips

Long positions may be opened from the current level with targets at 12660.0, 12690.0 and stop-loss at 12510.0. Implementation period: 1-2 days.

Short positions may be opened below the level of 12540.0 with targets at 12465.0, 12445.0 and stop-loss at 12593.0. Implementation period: 1-2 days.

DAX30 index of the German stock exchange

BuySellSpread
12405.712402.334

Scenario

TimeframeDay's Range
RecommendationsBUY
Entry Point12559.3
Take Profit12660.0, 12690.0
Stop Loss12510.0
Support levels12050.9, 12146.3, 12262.0, 12325.4, 12394.4, 12446.8, 12526.8, 12587.4, 12617.8, 12664.7, 12729. 8

Alternative scenario

RecommendationsSELL STOP
Entry Point12539.0
Take Profit12465.0, 12445.0
Stop Loss12593.0
Support levels12050.9, 12146.3, 12262.0, 12325.4, 12394.4, 12446.8, 12526.8, 12587.4, 12617.8, 12664.7, 12729. 8
FDAX: technical analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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