FDAX: technical analysis

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01/24/2020

FDAX, H4

On the 4-hour chart, a sideways trend is forming. The instrument is trading within the corridor formed by the boundaries of Bollinger bands. The indicator cloud is expanding. The MACD histogram is around the zero line, its volumes are minimal, and the signal line is horizontal and does not form a clear signal to enter the market. Stochastic crosses the border of the overbought zone upwards; a signal to open long positions maintains.

FDAX, D1

On the daily chart, the uptrend is still in force. The instrument returned to growth after correction and is trading between the upper border and the middle line of Bollinger bands, the indicator cloud is expanding. The MACD histogram is in the positive area, keeping a signal to open long positions. Stochastic is in the neutral zone, the oscillator lines are reversed downwards from the border with the overbought zone, a signal to open short positions maintains.

Key levels

Resistance levels: 13558.0, 13641.0.

Support levels: 13485.0, 13380.0, 13925.0, 13188.0, 13101.0, 13034.0, 12945.0.

Trading tips

Long positions may be opened from the level of 13590.0 with the target at 13640.0 and stop loss 13560.0.

Short positions may be opened from the level of 13440.0 with the target at 13380.0. Stop loss 13480.0

Implementation period: 1–3 days.

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