CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
EN 
简体中文
ไทย
Português
DAX bulls look to build up a head of steam for a breakout
DAX Xetra (cash index)
A positive session on Monday and a second positive daily candlestick suggests that the bulls are in recovery mode once more.
Maintaining the support band 11,370/11,415 has been key to this in helping to maintain the outlook that corrections remain a chance to buy within this uptrend channel.
Now, this morning, an intraday move above a near term pivot at 11,556 has shown the bulls are looking to take control again, and this pivot will be seen to be a gauge of near term strength.
A close above 11,556 today will be a positive development.
However, this comes as the initial pull higher has retreated back to the pivot.
Hourly chart momentum indicators reflect the improvement, with the hourly RSI above 60 for the first time in over a week, but, already this morning the move higher is losing momentum ( a negative daily candle is currently forming).
Richard Perry
Leave a reply
Recent Posts
Consolidation forming on gold, but is it just near term respite?
Read More »Signs of improving risk appetite as US Democrats float the idea of $2.4 trillion fiscal package
Read More »Gold remains under pressure as dollar rally continues
Read More »Subscribe to our Market Analysis
Your data is safe with us. Please read our Privacy Notice