European indexes on the stock markets came under pressure as a result of weakening Essentra securities and banking stocks. Meanwhile, the growth showed Generali shares after news of the takeover.
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DAX situation on 24.01.2017
On Monday, the advantage was on the side of the bears. At the opening of trading the index of the gap formed in the downward direction, and then continued to decline. Sellers have sent the price down and tested the level of 11,500 after the opening of the European session. The price rebounded from this level, after testing and neglected part of the recent losses. DAX index broke the 50 EMA and the 100 EMA are tested on 4-hour chart, during the European session. 50 EMA and 100 EMA became neutral, while 200 EMA has maintained a bullish bias. Resistance is at around 11600, and 11500. Support
MACD Histogram has decreased, which indicates the position gain sellers. RSI headed down.
The outlook on the DAX on 23/01/2017
If the price overcomes the level of 11,500, it can be expected that the DAX will continue to decline in the region 11400. It is possible to further downward movement in the region of 11,300.
* Analytical review of the broker of Fort the Financial Services , analyst Alexander Kofman
