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Below 11971.69 PTS the DAX 30 is evolving toward 11107.6 PTS over the short term. The clearing of 11971.69 PTS would invalidate this opinion and open the door for 12079.7 PTS.
Opinion Short Term
- Resistance 1 £11,755.67
- Support 1 £11,107.60
Opinion Medium Term
- Resistance 2 £11,971.69
- Support 2 £10,999.59
The MACD is positive but lower than its signal line. The dynamic in progress has been interrupted. If the MACD were to turn negative, the price correction could continue. Powerful indicators like the RSI, are not giving us any particular indications in the short term. The Stochastics indicators are not giving any clear signals for the coming days. The volumes traded are more than the average volumes over the last 10 days.
After a recent high at 11788.4 PTS the index corrected towards the 50-day moving average 11370.1: the price reaction on this level allows us to envisage a continuation of this movement in the medium term. The first buy points (or short-term supports) are at 11107.6 PTS and 10999.59 PTS. The resistances are at 11755.67 PTS and 11971.69 PTS.