DAX Technical Analysis
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.
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.
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.
DAX30 Technical indictors (27/07/2017)
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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