Technical Commentary : The DAX index is composed by the 30 largest and most actively traded German equities on the Frankfurt Stock Exchange. …….
Day By Day – Indipendent Research
In the short term, the index alternates bullish accelerations and consolidation periods. Technical elements indicate that the current phase of consolidation could come to an end: prices are back on the 7194 points support (March 2012 top); this level is also the 50-day moving average area. Eventually, the stochastic indicator is strongly deflated. We are therefore positive and we anticipate a new bullish acceleration over the coming sessions: we aim 7442.50 point or even 7600 points; we set the invalidation level of this scenario slightly below the 7194 points support, the last level where a rebound took place.
|2 months Opinion||BULLIS|
|2 weeks Opinion||POSITIVE|
|Resistances||7442,5 / 7600 pt|
|Supports||7194 / 7081 pt|
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Source: ETFWorld – Day By Day – Indipendent Research