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DAX30 Daily Technical Analysis | 5 February 2018

2018-02-05 10:02 am | Resource: Technical Analysis Section | No Views : 345

DAX30 fell sharply on Friday as a result of the pressure of sellers on the German index, which led to break the support area 12914.

DAX30 Daily Technical Analysis | 5 February 2018

The simple moving average and the slow moving average are both negative crosses.
Momentum's MACD is still bearish and is still showing increasing sellers' resolve.
From the previous chart on the hourly chart, the hourly breach of Andrew's minimum limits was seen during last week's trading, which supports the sellers to achieve great targets.
It is expected that if the 30 index breaks the 12749 area, 12346 zones may be targeted on the other side, if the breach of 12868 might target the 13037 zones.
Support: 12690 - 12562-12328
Resistance: 12914 - 13343 - 13548
Trend: Down


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