DAX Xetra (cash index)
The past week of trading on the DAX has shown a change in sentiment and the recovery is now beginning to gather pace.
Another positive session yesterday completed a breach of a three week downtrend, whilst the market is now looking to push through the overhead supply resistance band 11,459/11,499 with another run higher early today.
This is coming with a batch of positive signals on momentum, with the RSI at a near four week high, a recent confirmed bull cross buy signal on Stochastics and a bull cross now forming today on the MACD lines.
The last bull cross on the MACD lines came prior to a 400 tick run higher.
This is reflected on the hourly chart with the more positive configuration on momentum.
At Hantec Markets Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.