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DAX30 Daily Technical Analysis | 6 February 2018

2018-02-06 07:04 am | Resource: Technical Analysis Section | No Views : 345

DAX30 failed to breach the 12735 area during yesterday's session as a result of sellers' pressure and bull weakness in the German index. The index closed yesterday's trading at the lowest price since mid-September.

DAX30 Daily Technical Analysis | 6 February 2018

The simple moving average and the slow moving average are pointing downwards so far.
The momentum indicator of MACD started to indicate weakness and decreasing bear strength in the indicator but does not indicate a bull force.
It is expected that, if the breach of the German index of the 12612 area is confirmed, it may target the 12346 zones, while the breach of 12735 might target the 12992 zones.
Support: 12328 - 11988- 11853
Resistance: 12735 - 12914 - 13343
Trend: Down


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