HomeContributorsTechnical AnalysisDAX Fell Below 11900 Support

DAX Fell Below 11900 Support

DAX fell below 11900 support (Fibo 38.2% of 11459/12177 rally) on Wednesday, in extension of previous day’s strong fall, when the index was down 1.34%.

Near-term studies turned into full bearish mode, while daily technicals are losing traction.

Close below 11900 handle is needed to signal further easing that may extend towards 11818 (50% retracement) and 11785 (55SMA).

The notion is supported by overbought weekly studies and bearish divergence on weekly slow stochastic.

Broken daily Kijun-sen so far caps upside attempts at 11932, with extended upticks expected to stay below daily Tenkan-sen (12027) to keep fresh bears in play.

Res: 11932; 11980; 12027; 12098
Sup: 11878; 11818; 11785; 11733

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Featured Analysis

Learn Forex Trading