FDAX: technical analysis
15 September 2017, 11:10
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 12565.0 |
| Take Profit | 12660.0, 12710.0 |
| Stop Loss | 12496.0 |
| Key Levels | 12260.0, 12345.0, 12470.0, 12565.0, 12660.0, 12710.0 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 12470.0 |
| Take Profit | 12345.0 |
| Stop Loss | 12540.0 |
| Key Levels | 12260.0, 12345.0, 12470.0, 12565.0, 12660.0, 12710.0 |
FDAX, D1
On the daily chart, the instrument is correcting down from the upper line of the Bollinger Bands. The price remains above its moving averages that are turning up. The RSI is trying to turn down just below the border of the overbought zone. The Composite is testing its strong resistance.
FDAX, H4
On the 4-hour chart, the instrument is trading on the middle MA of the Bollinger Bands. The price remains above its moving averages that are directed up. The RSI is falling, having left the overbought zone. The Composite is falling as well.
Key levels
Support levels: 12470.0 (local lows), 12345.0 (August highs), 12260.0 (local lows).
Resistance levels: 12565.0 (local highs), 12660.0 (July highs), 12710.0 (May highs).
Trading tips
The price is consolidating, forming a “flag” pattern. The growth can continue after a breakout of its upper border.
Long positions can be opened from the level of 12565.0 with targets at 12660.0, 12710.0 and stop-loss at 12496.0. Validity – 3-5 days.
Short positions can be opened from the level of 12470.0 with the target at 12345.0 and stop-loss at 12540.0. Validity – 3-5 days.
On the daily chart, the instrument is correcting down from the upper line of the Bollinger Bands. The price remains above its moving averages that are turning up. The RSI is trying to turn down just below the border of the overbought zone. The Composite is testing its strong resistance.
FDAX, H4
On the 4-hour chart, the instrument is trading on the middle MA of the Bollinger Bands. The price remains above its moving averages that are directed up. The RSI is falling, having left the overbought zone. The Composite is falling as well.
Key levels
Support levels: 12470.0 (local lows), 12345.0 (August highs), 12260.0 (local lows).
Resistance levels: 12565.0 (local highs), 12660.0 (July highs), 12710.0 (May highs).
Trading tips
The price is consolidating, forming a “flag” pattern. The growth can continue after a breakout of its upper border.
Long positions can be opened from the level of 12565.0 with targets at 12660.0, 12710.0 and stop-loss at 12496.0. Validity – 3-5 days.
Short positions can be opened from the level of 12470.0 with the target at 12345.0 and stop-loss at 12540.0. Validity – 3-5 days.
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