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DAX30 Daily Technical Analysis | 9 January 2018

2018-01-09 11:30 am | Resource: Technical Analysis Section | No Views : 197

DAX30 continued to trade higher in the 13343 area yesterday, and today the European index has rebounded from these levels and still has a problem of momentum preventing it from breaching the previous highs.

DAX30 Daily Technical Analysis | 9 January 2018

Our neutral view on the 30-day trade is due to the breach of the bullish trend line on the hourly frame and the lack of confirmation. The slow moving average is positively intersecting the simple moving average and is currently neutral.
The momentum indicator of MACD with the default settings is still crossed negatively today and the indicator still shows a negative technical bias in formation.
Our expectations are unchanged with no significant price movements. If the 30 index crosses 13408 area, it might target 13468 areas, while 13361 would target 13182 zones.
We are still recommending the owners of the purchasing centers to reduce their positions in case of a break 13408 or in case of breaking 13338
Support: 13343 - 13207-12914
Resistance: 13468 - 13572 - 13767
Trend: Up

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