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DAX30 Daily Technical Analysis | 7 February 2018

2018-02-07 08:22 am | Resource: Technical Analysis Section | No Views : 396

DAX30 opens trading yesterday on the sharp price gap down as a result of pressure sellers on the index and the correction to profit-taking which led the approach of the index support 11988 and bounce them areas after hours trading.

DAX30 Daily Technical Analysis | 7 February 2018

The 30-hour chart broke the downtrend line on the hourly intraday basis, and the simple moving average crossed positively with the slow moving SMA without confirmation.
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 30 index of the German 12541 area may target the 12954 areas on the other side, if breaking the level of 12328 may target areas of 11988.
Support: 12328 - 11988- 11853
Resistance: 12735 - 12914 - 13343
Trend: Down


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