FDAX: technical analysis

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02/11/2019

FDAX, D1

On the daily chart, the upward trend is still in force. The instrument returned to growth after correction and is trading between the middle line and the lower border of Bollinger bands. The MACD histogram is in the positive region, keeping the signal to open long positions. Stochastic in the neutral zone, the lines of the oscillator are directed downwards.

FDAX, H4

On the 4-hour chart, a downward movement is being corrected, the instrument is trading between the middle line and the lower border of Bollinger bands, the price range is extended, indicating a likely resumption of the decline. The MACD histogram is in the negative area, the signal line crosses the zero line and the body of the histogram downwards, forming a strong signal to open sell orders. Stochastic in the neutral zone, the lines of the oscillator are directed upwards.

Key levels

Resistance levels: 11045.0, 11097.0, 11160.0, 11240.0, 11279.0, 11312.0, 11389.0.

Support levels: 10997.0, 10922.0, 10860.0.

Trading tips

In the short term, it is better to open short positions from the level of 10922.0 with the target at 10860.0 and stop loss 10961.0.

Long positions can be opened from the level of 11045.0 with the target at 11160.0. Stop loss is 10997.0.

Implementation period: 1–3 days.

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