All Articles Tagged - GER30

Technical Analysis – GER30 index needs a break above 20-SMA

Posted on August 1, 2019 at 1:19 pm GMT

The GER30 index put breaks on Wednesday’s sell-off and geared up to move-off one-month lows but the 20-period simple moving average (SMA) in the four-hour chart did not let the recovery to continue. In the short-term the bulls could revisit the 20-period SMA if the RSI and the MACD keep improving. Any significant step higher and above the 38.2% Fibonacci of 12,279 of the downleg from 12,661 to 12,043 could open the door for the 50% Fibonacci of 12,534 and [..]

Technical Analysis – GER30 index keeps growing in overbought area

Posted on July 25, 2019 at 8:10 am GMT

The GER30 index gained considerable traction this week, with the price breaching the downward move that started from the almost one-year high of 12,661 and passing through the Ichimoku cloud. The technical picture suggests a cautiously bullish bias for the short-term as the MACD keeps running above its red signal line and the RSI is flattening around the 70 overbought area. The bulls could continue the rally until the 12,620-12.640 area. Should the bullish pressure strengthen above the 12,661 top, resistance could rise [..]

Technical Analysis – GER30 index rallies to 6-month high; some fragility expected in short term

Posted on April 18, 2019 at 10:06 am GMT

Germany 30 cash index (GER30) gained considerable traction after breaking the neckline (11,690) of the inverted head and shoulders pattern earlier this month, topping the rally at a six-month high of 12,194 on Wednesday. While, the RSI warns of an overbought market that could pressure the price lower in the short term, the uptrend off the 10,276 bottom may stay in place as long as the price continues to trade well above its simple moving averages (SMA). The bulls would aim for the 12,458-12,600 resistance area if the market [..]

Technical Analysis – GER30 index finds resistance at the neckline of the inverted head and shoulders pattern

Posted on March 7, 2019 at 12:43 pm GMT

German 30 stock index (DAX 30) stretched above the June downtrend line but was unable to pierce the 11,690 neckline of the inverted head (10,276) and shoulders (11,000) pattern this week, with the price correcting lower instead. The technical indicators suggest a neutral bias for the short term at the moment as the RSI is heading towards its 50 neutral mark and the MACD is moving around its red signal line. The risk, however, could turn to bearish if the former [..]

Technical Analysis – GER30 stock index en route to third weekly gain

Posted on January 17, 2019 at 2:51 pm GMT

The German 30 stock index (DAX 30) has been on the rise since the day it dropped to a two-year low of 10,276 and is now set to register its third weekly gain slightly above the 20-day simple moving average. The short-term bias looks currently neutral to bullish as the RSI moves along the 50 line and the MACD keeps strengthening above its red signal line and towards zero. On the upside, the bulls could push to break the 11,000 support-turned-resistance level which [..]

Technical Analysis – GER 30 stock index set for the fifth monthly loss

Posted on December 27, 2018 at 3:44 pm GMT

The GER 30 stock index (DAX 30) is heading for its fifth monthly loss, dropping to a fresh 2-year low of 10,301 on Thursday. According to the RSI and the Stochastics which have entered oversold terittory, the market could see some upside in the short-term. Yet as long as the price maintains the lower highs and lower lows pattern below its moving averages and the Ichimoku cloud, the downtrend is not likely to be reversed anytime soon. The selling could continue until [..]

Technical Analysis – GER 30 index moves above 2-year low but medium-term outlook remains bearish

Posted on November 27, 2018 at 2:05 pm GMT

The Germany 30 index gained ground after touching a two-year nadir of 11,006.50 last week and is currently trading roughly 300 points above the aforementioned bottom. Despite the move up, the Tenkan- and Kijun-sen lines remain negatively aligned, which is indicative of a bearish short-term bias. However, the Kijun-sen has halted its decline, pointing to weakening negative momentum. Moreover, the stochastics are giving a bullish signal in the very short term, as the %K line is above the %D one and both [..]

Technical Analysis – GER 30 index extends losses to eye 2-year low

Posted on November 20, 2018 at 11:15 am GMT

The Germany 30 index is declining for the third straight day and is currently trading not far above its lowest since December 2016 of 11,047.80 hit in late October. The Tenkan- and Kijun-sen lines are negatively aligned in support of a bearish bias in the short term. Additional declines may find support around the near two-year nadir of 11,047.80; the area around this also encapsulates the 11,000 mark that may be of psychological significance. Below, the zone around 10,800 that halted advances [..]

US Open Preview – Sterling largely consolidates massive losses with PM May’s leadership on tightrope

Posted on November 16, 2018 at 12:28 pm GMT

Here are the latest developments in global markets: FOREX: The dollar was slightly up versus a basket of currencies, with the closely watched British currency being broadly higher. Still, the pound mostly consolidated Thursday’s sharp losses on the back of the Brexit drama that unfolded, and which still appears to have room to run. One exception was the yen, which came on the receiving end of safe-haven flows and thus the pound was unable to advance against it – pound/yen [..]

US Open Preview – Bad day for the pound as May’s future hangs in balance; dollar capitalizes

Posted on November 15, 2018 at 1:03 pm GMT

Here are the latest developments in global markets: FOREX: Although the British Cabinet approved the EU-UK divorce terms agreed between the sides on Tuesday, the deal threw British politics into chaos as Theresa May faces a possible vote of no confidence. Opposition to May’s Brexit plans is growing as the Brexit Secretary Dominique Raab as well as a few other ministers decided to resign on Thursday, expressing in that way their opposition to the deal struck. The news fuelled strong doubts [..]

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