FDAX: technical analysis
02 April 2018, 11:53
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 12460.0 |
| Take Profit | 12800.0 |
| Stop Loss | 12255.0 |
| Key Levels | 11775.0, 11700.0, 11500.0, 12255.0, 12460.0, 12800.0 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 11700.0 |
| Take Profit | 11500.0 |
| Stop Loss | 11775.0 |
| Key Levels | 11775.0, 11700.0, 11500.0, 12255.0, 12460.0, 12800.0 |
FDAX, D1
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is growing, having bounced off the border of the oversold zone. The Composite is testing from below its longer MA.
FDAX, H4
On the 4-hour chart, the instrument is trading on the upper line of the Bollinger Bands. The price remains on the level with its moving averages that are horizontal. The RSI is approaching the border of the overbought zone. The Composite is testing its strong resistance region.
Key levels
Support levels: 11775.0 (local lows), 11700.0 (local lows), 11500.0 (January 2017 lows).
Resistance levels: 12255.0 (local highs), 12460.0 (local highs), 12800.0 (December 2017 lows).
Trading tips
The price keeps forming a correctional “triangle” pattern. Positions can be opened after a breakout of one of its borders.
Long positions can be opened from the level of 12460.0 with the target at 12800.0 and stop-loss at 12255.0.
Short positions can be opened from the level of 11700.0 with the target at 11500.0 and stop-loss at 11775.0.
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is growing, having bounced off the border of the oversold zone. The Composite is testing from below its longer MA.
FDAX, H4
On the 4-hour chart, the instrument is trading on the upper line of the Bollinger Bands. The price remains on the level with its moving averages that are horizontal. The RSI is approaching the border of the overbought zone. The Composite is testing its strong resistance region.
Key levels
Support levels: 11775.0 (local lows), 11700.0 (local lows), 11500.0 (January 2017 lows).
Resistance levels: 12255.0 (local highs), 12460.0 (local highs), 12800.0 (December 2017 lows).
Trading tips
The price keeps forming a correctional “triangle” pattern. Positions can be opened after a breakout of one of its borders.
Long positions can be opened from the level of 12460.0 with the target at 12800.0 and stop-loss at 12255.0.
Short positions can be opened from the level of 11700.0 with the target at 11500.0 and stop-loss at 11775.0.
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