Technical Analysis of the DAX 30 Index The main German index did not witness stability during last Friday's trading, as a result of the tension between the bulls and the bear.
Where it can be observed that the sellers took control of the DAX, we notice its decline at the beginning of trading from 15814 points towards the levels of 15651 points, and with the failure to break the first support areas as a result of the high buyers’ determination, it rebounded to close at 15819 points and turned from red to green.
DAX analysis:
The German index is moving in a bullish direction that is being formed on the 60-minute time frame, supported by the breach of the descending trend line during last Friday's trading, and it breached the top of 15814 points, and the technical indicators support our view.
· The fast simple moving average and the slow simple moving average during the last trading sessions of the last week, and its signal changed from bearish to bullish.
The Relative Strength Momentum Indicator (RSI 14)) is trading in an uptrend supported by the breach of the descending trend line and the 50-point area.
· Analysis of the (ADX) index closed last Friday's trading at 34 points, which indicates the strength of the bullish trend.
Where it can be observed that the sellers took control of the DAX, we notice its decline at the beginning of trading from 15814 points towards the levels of 15651 points, and with the failure to break the first support areas as a result of the high buyers’ determination, it rebounded to close at 15819 points and turned from red to green.
DAX analysis:
The German index is moving in a bullish direction that is being formed on the 60-minute time frame, supported by the breach of the descending trend line during last Friday's trading, and it breached the top of 15814 points, and the technical indicators support our view.
· The fast simple moving average and the slow simple moving average during the last trading sessions of the last week, and its signal changed from bearish to bullish.
The Relative Strength Momentum Indicator (RSI 14)) is trading in an uptrend supported by the breach of the descending trend line and the 50-point area.
· Analysis of the (ADX) index closed last Friday's trading at 34 points, which indicates the strength of the bullish trend.