CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% 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. 65% 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.

DAX rebounds as the bulls begin to gather momentum

DAX Xetra (cash index)

The past week of trading on the DAX has shown a change in sentiment and the recovery is now beginning to gather pace.

Another positive session yesterday completed a breach of a three week downtrend, whilst the market is now looking to push through the overhead supply resistance band 11,459/11,499 with another run higher early today.

This is coming with a batch of positive signals on momentum, with the RSI at a near four week high, a recent confirmed bull cross buy signal on Stochastics and a bull cross now forming today on the MACD lines.

The last bull cross on the MACD lines came prior to a 400 tick run higher.

  • A close above 11,500 today would open 11,726/11,865.
  • Furthermore, there is now a band of support around the historic 11,400 level where previous highs from the last week or so at 11,395 now becomes supportive meaning that intraday corrections are a chance to buy.

This is reflected on the hourly chart with the more positive configuration on momentum.

 

Richard Perry

Richard Perry

Leave a reply

Recent Posts

Subscribe to our Market Analysis

Please use the boxes below to indicate if you would like to receive news, market analysis and information from Hantec Markets. Ticking yes, will direct you to our preference centre where you can choose the content of interest to you. From there you may also opt-out of receiving any communication. The choice is yours.

Your data is safe with us. Please read our Privacy Notice

Start trading now

Register now in 4 easy steps