FDAX: technical analysis
20 December 2018, 10:29
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 10570.0 |
| Take Profit | 10460.0, 10350.0 |
| Stop Loss | 10640.0 |
| Key Levels | 10350.0, 10460.0, 10570.0, 11000.0, 11220.0, 11330.0 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 11000.0 |
| Take Profit | 11220.0 |
| Stop Loss | 10910.0 |
| Key Levels | 10350.0, 10460.0, 10570.0, 11000.0, 11220.0, 11330.0 |
FDAX, D1
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is testing the border of the oversold zone. The Composite is about to test its most recent support.
FDAX, H4
On the 4-hour chart, the instrument is trading on the lower line of the Bollinger Bands. The price remains below its moving averages that are directed down. The RSI is falling, having broken down its longer MA. The Composite is showing similar dynamics.
Key levels
Support levels: 10570.0 (local lows), 10460.0 (June 2016 highs), 10350.0 (December 2016 lows).
Resistance levels: 11000.0 (local highs), 11220.0 (local highs), 11330.0 (local highs).
Trading tips
A breakdown of local lows near 10570.0 would allow the fall to continue.
Short positions can be opened from the level of 10570.0 with targets at 10460.0, 10350.0 and stop-loss at 10640.0. Validity – 3-5 days.
Long positions can be opened from the level of 11000.0 with the target at 11220.0 and stop-loss at 10910.0. 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 are directed down. The RSI is testing the border of the oversold zone. The Composite is about to test its most recent support.
FDAX, H4
On the 4-hour chart, the instrument is trading on the lower line of the Bollinger Bands. The price remains below its moving averages that are directed down. The RSI is falling, having broken down its longer MA. The Composite is showing similar dynamics.
Key levels
Support levels: 10570.0 (local lows), 10460.0 (June 2016 highs), 10350.0 (December 2016 lows).
Resistance levels: 11000.0 (local highs), 11220.0 (local highs), 11330.0 (local highs).
Trading tips
A breakdown of local lows near 10570.0 would allow the fall to continue.
Short positions can be opened from the level of 10570.0 with targets at 10460.0, 10350.0 and stop-loss at 10640.0. Validity – 3-5 days.
Long positions can be opened from the level of 11000.0 with the target at 11220.0 and stop-loss at 10910.0. Validity – 3-5 days.
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