DAX 30 Weekly Analysis 16 February 2017

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CHARTING

The crucial points are:

1

 

The price of DAX 30 index has appreciated higher than 11650 level again, and since has been fluctuating within a range from 11650 level of support to 11850 level of resistance. There is a star candle formation appearing which is represented by the price reaching for the 11850 level in conjunction with the small candles of yesterday and today. Thereafter, should this materialise it could signal marginal decline.

Charting outcome: Neutral – Marginally bearish

INDICATORS (computerized T.A)

The crucial points are:

2

3

 

The indicators are signalling that a weak uptrend has occurred, which is possible to become stronger. The moving averages slopes have almost remained the same, while the balance between the positive and the negative dynamic has positively changed. The trend dynamic has risen by +16.68%, whilst the market’s volatility has marginally fallen by -6.94%. Finally, the oscillators have passed into overbought levels.

Indicators outcome: Marginally bullish – Neutral     

CONCLUSION

Indicators and charting are in agreement that the market is possible to move on a neutral path. If the price appreciates higher than 11850 level, the next resistance is possible to occur at 11950.0 level. On the contrary, if the price breaks lower than 11650 level, the next support could occur at 11450 level.

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