DAX 30 (1H) - short term bearish bias
THe German index is mirroring losses in Asian markets this morning. The RSI divergence where the indicator failed to post a higher high is a sign that the bullish momentum that has propelled the index towards the January 2018 level is fading away. As the index is attempting a break below the major support of 13150, a close below the level and a bearish MA cross would be the confirmation that sellers have gained the upper hand.
Key support: 13120
Key resistance: 13250
THe German index is mirroring losses in Asian markets this morning. The RSI divergence where the indicator failed to post a higher high is a sign that the bullish momentum that has propelled the index towards the January 2018 level is fading away. As the index is attempting a break below the major support of 13150, a close below the level and a bearish MA cross would be the confirmation that sellers have gained the upper hand.
Key support: 13120
Key resistance: 13250
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.