AvaTrade - Analytics


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DAX index in a strong downward trend

The DAX index is trading below its downward trend line on a 4 hour time frame. This shows that the trend is towards the downside. The price is also trading below the 50 and 100 day moving averages which are shown in yellow and red colour respectively. As long as the price is trading below these average, this shows that the bears are in control of the price action.

The MACD and the RSI indicators are trading in line with the price action which means that while the price is making the lower low, the indicators are conforming the move.

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Important Zone 

11304-11191 Support

12118-12005 Resistance

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