DAX 30 (1H) - short term bearish bias
THe German index is mirroring losses in Asian markets this morning. The RSI divergence where the indicator failed to post a higher high is a sign that the bullish momentum that has propelled the index towards the January 2018 level is fading away. As the index is attempting a break below the major support of 13150, a close below the level and a bearish MA cross would be the confirmation that sellers have gained the upper hand.
Key support: 13120
Key resistance: 13250
THe German index is mirroring losses in Asian markets this morning. The RSI divergence where the indicator failed to post a higher high is a sign that the bullish momentum that has propelled the index towards the January 2018 level is fading away. As the index is attempting a break below the major support of 13150, a close below the level and a bearish MA cross would be the confirmation that sellers have gained the upper hand.
Key support: 13120
Key resistance: 13250