Hantec Markets | Feb 11, 2019 10:23
DAX Xetra (cash index)
The pivot around 11,000 is a key gauge for the outlook of the DAX.
Last week’s breakdown has been unwound on Monday morning, but can the bulls make a sustainable recovery in a move that would shift the near to medium term outlook back towards positive once more?
The Recent bear signals across momentum indicators suggest that far more needs to be don’t than the market rebounding this morning.
A legacy of the bear cross on the MACD lines is still an issue, whilst the Stochastics are still falling and although the RSI has ticked back higher it is below 50.
Holding a move back above 11,000 is a minimum today.
However, the hourly chart shows an area of overhead supply between 11,000/11,100 as the hourly RSI is simply unwinding from an overstretched position.
A failure of the hourly RSI under 60 and hourly MACD lines around neutral with a lower high in the 11,000/11,100 band would be seen as a chance to sell.
"DISCLAIMER: This report does not constitute personal investment advice, nor does it take into account the individual financial circumstances or objectives of the clients who receive it. All information and research produced by Hantec Markets is intended to be general in nature; it does not constitute a recommendation or offer for the purchase or sale of any financial instrument, nor should it be construed as such.
All of the views or suggestions within this report are those solely and exclusively of the author, and accurately reflect his personal views about any and all of the subject instruments and are presented to the best of the author’s knowledge. Any person relying on this report to undertake trading does so entirely at his/her own risk and Hantec Markets does not accept any liability. "
Written By: Hantec Markets
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.