Technical Analysis: DAX 30 Index: towards the 2011 highs


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

This index has been evolving within a bullish trend, evidenced by successive ascending tops and bottoms and sustained by the 50-day moving average. We are bullish in the medium term.


Anticipation :  

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.

Close price 7232.4

2 months Opinion BULLIS
2 weeks Opinion POSITIVE

Resistances 7442,5 / 7600 pt
Supports 7194 / 7081 pt

Follow-up Analysys: On October 1st, we have recommended the purchase of  MSCI EM Eastern Europe index ETFs related. Since then, prices have started to bounce on the 195.50 points support and are now heading toward our 220.10 points target.


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Source: ETFWorld – Day By Day – Indipendent Research



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