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DE 30 Technical Analysis - DE 30 Trading: 2020-11-12
DAX Index Technical Analysis Summary
Above 13283.69
Buy Stop
Below 11447.09
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Neutral |
| Parabolic SAR | Buy |
DAX Index Chart Analysis
DAX Index Technical Analysis
On the daily timeframe the DE30: Daily is rising above the 200-day moving average MA(200) which has leveled off. We believe the bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 13283.69. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 11447.09. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (13283.69) without reaching the order (11447.09), we recommend cancelling the order: the market has undergone internal changes which were not taken into account
Fundamental Analysis of Indices - DAX Index
Germany’s economic reports were positive recently. Will the DE30 rebound continue?
Germany’s economic data in the last couple of weeks were positive on balance. While construction sector contraction continued in October and factory orders growth slowed in September, industrial production increase accelerated in September, the current account surplus rose, and private sector activities expansion accelerated in October. Thus, industrial production rose 1.6% over month in September after 0.5% growth in August, the current account surplus rose to 26.3 billion euro in September from 16.5 billion in prior month, and Markit’s final composite PMI report indicated Germany’s composite PMI was revised higher to 55 in October from a preliminary reading of 54.5. Readings above 50.0 indicate industry expansion, below indicate contraction. Improving data are bullish for DE30.
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