FDAX, D1

On the D1 chart, a descending movement correction is observed; the instrument is trading between the center and upper lines of Bollinger Bands, and the indicator borders are narrowing. MACD histogram is in the negative zone keeping a signal for opening short positions. Stochastic is in the neutral zone, and the signal line of the oscillator is directed downwards.

FDAX, H4

On the H4 chart, the uptrend is still in force; the instrument is trading near the upper line of Bollinger Bands; the indicator borders are widened, which may indicate a likely continuation of growth in the short term. MACD histogram is in the positive area forming a signal for opening long positions. Stochastic is on the border with the overbought zone, the signal line is directed upwards.

Support and resistance

Resistance levels: 11689.2, 11792.7, 11860.0.

Support levels: 11526.3, 11425.4, 11347.8, 11228.8, 11151.2, 11047.7.

Trading tips

Long positions may be opened from the level of 11689.2 with target at 11860.0 and stop loss at 11600.0. Implementation period: 1-3 days.

Short positions may be opened from the level of 11526.3 with target at 11425.4. Stop loss — 11580.0. Implementation period: 3-5 days.

DAX30 index of the German stock exchange

BuySellSpread
10828.210818.2100

Scenario

TimeframeDay's Range
RecommendationsBUY STOP
Entry Point11689.2
Take Profit11860.0
Stop Loss11600.0
Support levels11047.7, 11151.2, 11228.8, 11347.8, 11425.4, 11526.3, 11689.2, 11792.7, 11860.0

Alternative scenario

RecommendationsSELL STOP
Entry Point11526.3
Take Profit11425.4
Stop Loss11580.0
Support levels11047.7, 11151.2, 11228.8, 11347.8, 11425.4, 11526.3, 11689.2, 11792.7, 11860.0
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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