HomeContributorsTechnical AnalysisGER 40 Tests Major Resistance

GER 40 Tests Major Resistance

Equities hesitate as robust US economic activity fans fears of more rate hikes. The Dax 40 is testing last June’s peak of 14650, a liquidation point from a botched rebound last summer. This is a major ceiling which means that index is at a crossroads between a bullish recovery and a bearish reversal. A breakout could pave the way for a rally towards 15500, reinforcing hopes of a continuation of the uptrend. An overbought RSI on the daily chart shows exhaustion and 14330 on the 20-day moving average is the first support. 

Orbex
Orbexhttp://www.orbex.com/en/agent/cl/ccc678cb86b9
At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading.

Featured Analysis

Learn Forex Trading