German DAX Index

Mon Aug 26, 2019 1:24 pm
avatar  Forex

The German DAX commuted last week on Friday after a friendly opening over several hours sideways in a narrow range. As the afternoon progressed, a dynamic downward movement began. The index closed at a week low at 11,612 points.

The DAX injured the 200-day line, after he had previously failed in the resistance of the falling 20-day line. The point is now on the support zone 11,550-11,570 points. The risk that this support will be undershot today, especially at the end of the day, is quite high in view of the recent downturn and the overarching multi-week downtrend. Among them would be a bearish short-term follow-up signal with potential next targets at 11,500 points.

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