Bulls can step in if the price kisses the 50-day moving average. However, a break of this moving average could increase more selling pressure.
The German Dax index is trading above the upward trend line on an 8-hour time frame and this confirms that the uptrend is still intact. The further strength for this argument comes from the fact that the price is trading above the 50-day moving average and 100-day moving average shown in pink and green colors respectively. The price is tracing after reaching near its minor resistance zone shown by horizontal dotted red line. It is likely that the buyers may stip in when the price tests the 50-day moving average.
The RSI is trading near the overbought zone but below the downward trend line. Only a break of this would confirm more upward momentum
The minor resistance zone is shown by red dotted line and major by the solid line.
The minor support zone is shown by the green dotted line and major by the solid line.
For traders: our Portfolio of forex robots for automated trading has low risk and stable profit. You can try to test results of our forex ea download
Signal2forex reviews
Install your trader software at VPS server of one of the super fast providers:
Finance news
 Stock futures rise as market set to wrap up a wild week, Apple shares popStock futures rose early Friday, boosted by a jump in Apple shares, as Wall Street ... Read More  GDP grew at a 6.9% pace to close out 2021, stronger than expected despite omicron spreadThe U.S. economy grew at a much better-than-expected pace to end 2021 from sizeable boosts ... Read More  Stocks making the biggest moves premarket: McDonald’s, Blackstone, Netflix and othersCheck out the companies making headlines before the bell:Comcast (CMCSA) – The NBCUniversal and CNBC ... Read More |
