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DAX30 Daily Technical Analysis | 31 January 2018

2018-01-31 08:46 am | Resource: Technical Analysis Section | No Views : 313

DAX30 broke 13263 levels yesterday as a result of the bear pressure on the 30-day index. The index fell to 13151 on the hourly basis and the German is currently trading in a bearish direction.

DAX30 Daily Technical Analysis | 31 January 2018

The slow moving SMA intersected negatively with the SMA and with the break of 13263, this negative cross was confirmed.
Momentum is a bearish indicator but indicates a decline in sellers' resolve.
It is expected that if the German 30 index breaks the 13163 area, the 12,914 areas may be targeted on the other side, if the breach of 13305 might target the areas of 13518.
Support: 12914- 12807- 12690
Resistance: 13343 - 13548 - 13767
Trend: Down


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