DAX 30 Weekly Analysis 24 February 2017

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CHARTING

The crucial points are:

 

1

The price of DAX 30 index has broken fiercely the 11850 level of resistance and today is testing to appreciate higher than 12000 level, but without any success until now. Moreover, the Doji candle yesterday suggests that is not going to be an easy task for bulls, to break though that level. Although, that movement could be explained as a temporary pause of bulls, before they move the price to higher levels.

Charting outcome: Neutral – Marginally bullish

INDICATORS (computerized T.A)

The crucial points are:

2

3

The indicators are signalling that an uptrend has occurred, which is possible to become stronger. The moving averages slopes have become more positive, while the spread between the positive and the negative dynamic has widened. The trend dynamic has risen by +38.18%, whilst the market’s volatility has marginally risen by +1.34%. Finally, the oscillators have passed into heavy overbought levels.

Indicators outcome: Marginally bullish – Bullish      

CONCLUSION

Indicators and charting are agreeing that the market is possible to move in the positive path. However, the charting indicates arguments, which suggests the neutral path as well. Should the price appreciates higher than 12000 level, the next resistance is possible to occur at 12100 level. On the contrary, if the price breaks lower than 11850 level, the next support could occur at 11650 level.

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