AvaTrade - Analytics

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    DAX Index- trading near 50 day moving average

    The DAX index is trading in a descending triangle pattern on a 4 hour time frame. The projection of this towards the downside could push the price all the way below both the support zones mentioned below. The price is trading near the 100 day moving average which is shown in red colour but still above the 100 day moving average. If the 50 day moving average  (in green) crosses the 100 day moving average from below, it will be a bullish sign for the price action.

    The RSI has turned lower from its over bought zone of 70 and it is trading in line with the price action which means that the price action action has a momentum behind it.

    Important Zones

    DAX 14-10-2015

    9257-9112 Support

    8748-8648 Major Support

    11013-10876 Minor Resistance

    1166-11522 Major Resistance


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