Stock index DAX 30 is trading at 11346. The index continues to move below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend on the DAX 30. The lower boundary of the Ichimoku Kinko Hyo Cloud is expected to test near the level of 11450, from which you should expect an attempt to rebound and continue falling index with a goal near the level of 10650.
DAX 30 forecast & analysis October 31, 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 limit of the downward channel. Previously, a strong signal was obtained for SELL the DAX 30, due to the crossing of signal lines at the level of 11600.
Cancellation of the fall in quotations of the stock index will be the breakdown of the upper limit of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 11620, which 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 the level of 10950.
DAX 30 prediction & analysis October 31, 2018 suggests an attempt to test the resistance level near the area of 11450, from which we can expect a rebound and the continuation of the fall of the stock index with a potential target near the level of 10650, a strong growth and a breakdown of the 11620 area will be canceled, that would indicate continued growth.