FDAX: technical analysis
23 August 2018, 11:14
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 12435.0 |
| Take Profit | 12570.0, 12650.0 |
| Stop Loss | 12305.0 |
| Key Levels | 11925.0, 12110.0, 12230.0, 12435.0, 12570.0, 12650.0 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 12110.0 |
| Take Profit | 11925.0 |
| Stop Loss | 12230.0 |
| Key Levels | 11925.0, 12110.0, 12230.0, 12435.0, 12570.0, 12650.0 |
FDAX, D1
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that start turning down. The RSI is about to test its longer MA, having bounced off the border of the oversold zone. The Composite is growing, having broken out its longer MA.
FDAX, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains just below the EMA65, EMA130 and SMA200 that are directed down. The RSI is approaching the border of the overbought zone. The Composite is testing from below its longer MA.
Key levels
Support levels: 12230.0 (local lows), 12110.0 (local lows), 11925.0 (August 2017 lows).
Resistance levels: 12435.0 (local highs), 12570.0 (May lows), 12650.0 (local highs).
Trading tips
The price has returned above its longer-term ascending trendline. The growth could continue.
Long positions can be opened from the level of 12435.0 with targets at 12570.0, 12650.0 and stop-loss at 12305.0. Validity – 3-5 days.
Short positions can be opened from the level of 12110.0 with the target at 11925.0 and stop-loss at 12230.0. Validity – 3-5 days.
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that start turning down. The RSI is about to test its longer MA, having bounced off the border of the oversold zone. The Composite is growing, having broken out its longer MA.
FDAX, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains just below the EMA65, EMA130 and SMA200 that are directed down. The RSI is approaching the border of the overbought zone. The Composite is testing from below its longer MA.
Key levels
Support levels: 12230.0 (local lows), 12110.0 (local lows), 11925.0 (August 2017 lows).
Resistance levels: 12435.0 (local highs), 12570.0 (May lows), 12650.0 (local highs).
Trading tips
The price has returned above its longer-term ascending trendline. The growth could continue.
Long positions can be opened from the level of 12435.0 with targets at 12570.0, 12650.0 and stop-loss at 12305.0. Validity – 3-5 days.
Short positions can be opened from the level of 12110.0 with the target at 11925.0 and stop-loss at 12230.0. Validity – 3-5 days.
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