In Technical Analysis

DAX Technical Analysis

Short Term:

The DAX index is within a falling trend and a continued decline within this trend may be expected. The price is now close to the bottom of the trend channel, which may provide a positive reaction. A head and shoulders formation is under development. A decisive break of the support at 12171, alongside an increase in trade volume would suggest further downside. The DAX today broke a technical resistance point at 12320. This will likely provoke a negative reaction.  The index overall is assessed as technically negative in the short term.




Medium Term:

Having broken through the floor of a rising trend channel the DAX now indicates a slower rising rate, or the start of a more horizontal trend. A head and shoulders formation is currently under development. A decisive break of the support at 12171, ideally with an increase in trade volume would suggest further downside. DAX has medium term support at points 10750 and resistance at points 12900. The index is overall assessed as technically neutral / horizontal for the medium long term.

Long Term:

DAX is in a rising trend and a continued rise within this trend may be expected. In addition, the price has now fallen back towards the floor of the trend channel, which should give a reaction up. The index has marginally broken down through the support at points 12600. An established break predicts a further decline. The index is assessed as technically slightly positive for the long term.

Daily Chart:

DAX Daily

DAX Daily

 

DAX30 Technical indictors (27/07/2017)

RSI(14) 37.429 Sell
STOCH(9,6) 96.220 Overbought
STOCHRSI(14) 4.624 Oversold
MACD(12,26) -21.940 Sell
ADX(14) 34.568 Sell
Williams %R -4.962 Overbought
CCI(14) -106.8067 Sell
ATR(14) 32.8650 Less Volatility
Highs/Lows(14) -32.1429 Sell
Ultimate Oscillator 43.330 Sell
ROC -0.705 Sell
Bull/Bear Power(13) -56.0100 Sell

Description:

The DAX is a blue chip stock market index consisting of the 30 major German companies trading on the Frankfurt Stock Exchange. Prices are taken from the Xetra trading venue. According to Deutsche Börse, the operator of Xetra, DAX measures the performance of the Prime Standard’s 30 largest German companies in terms of order book volume and market capitalization. It is the equivalent of the FT 30 and the Dow Jones Industrial Average, and because of its small selection it does not necessarily represent the vitality of the economy as whole.

 

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