DAX® – The MACD increases the resistance


HSBC Daily Trading

DAX® – The MACD increases resistance

Yesterday Wednesday was particularly characterized by the booming gold price, which was able to break the $ 2,000 mark dynamically. On the other hand, the day on the stock markets was rather unsteady, so that with one exception, there was no really new knowledge for the DAX®. With only 123 points, the entire trade range was not only below one percent, but also completely within that of Tuesday, so it came to an “Inside Day”. Perhaps the most notable event: the MACD indicator sent an hourly sell signal, so we may have to look down. The very important 55-day line is approaching the 12,400 zone and would probably be tested again if the uptrend line defined by the lows of July 30 and 31 is broken at just under 12,500 points. The massive upward resistance is still there. Mention should be made of the weekly high of 12,768 points and the moving averages of the last 200 and 100 hours only a few meters away. The hurdle is reinforced by the 50 percent Fibonacci retracement of the downward wave that started on July 21, which can be found directly above it.


DAX® (Daily)

Chart DAX®

Source: tradesignalonline

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