DAX30 for Next Week
Updated
Friday as usual was down day, even though I wanted to believe that the resistance line would act as support, of course it didn't, it was obvious specially being a Friday, my mistake.
RSI very overbought, Stochastic overbought, Momentum peaked, all at 10.700, it had to come down and the end of the week was perfect for that.
We are still going up, still an uptrend. But be careful on Monday, I predict it comes down a little more towards 10.580 (at worse 10.530), overselling the RSI and the Stochastic a little more. Then we go up again, back to the 10.600-10.650 area.
RSI very overbought, Stochastic overbought, Momentum peaked, all at 10.700, it had to come down and the end of the week was perfect for that.
We are still going up, still an uptrend. But be careful on Monday, I predict it comes down a little more towards 10.580 (at worse 10.530), overselling the RSI and the Stochastic a little more. Then we go up again, back to the 10.600-10.650 area.
Note
The 50 EMA and the 200 EMA aren't on the chart but the 50 EMA is right there at the red trendline, acting as support. The 200 EMA is right at the black trendline, acting as major support.Note
Daily Chart, MACD just crossed
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