Stock index DAX 30 is trading at 11254. The index continues to move below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a downward trend in DAX 30. The test of the Ichimoku Kinko Hyo signal line region is expected near the level of 11300. Where should we expect an attempt to rebound and continue the index fall with a target near the level 10700.
DAX 30 forecast & analysis November 23, 2018
An additional signal in favor of reducing the stock index will be a test of the resistance level. As well as a rebound from the upper boundary of the descending channel. Previously, a weak signal was received for SELL the DAX 30, due to the intersection of the signal lines at the level of 11540.
Cancellation of the fall in quotations of the stock index will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 11550. This will indicate a change in the downward trend in favor of upward and continued growth. Expect to accelerate the fall in quotations of the stock index stands with the breakdown of support and closing below 10990.
DAX 30 forecast & analysis November 23, 2018 suggests an attempt to test the resistance level near the area of 11300. Where should we expect a rebound and the continuation of the fall of the stock index with a potential target near the level of 10700. The cancellation of the reduction option will be a strong increase and the breakdown of the area 11550. This will indicate continued growth.