Since its impact on the 3,970.0pts Resistance level (61.8% Fibonacci), the DAX-40 index fluctuated. The MACD indicator already points to a slowing bullish tendency (bearish divergence), on the mid-term perspective. As previously said, a break-out of the 3,970.0pts level isn’t likely today, but the market may find further support over the 3,950.0pts, 3,935.0pts and 3,905.0pts zones.
Pierre Veyret– Technical analyst, ActivTrades
Disclaimer: These opinions are solely the author’s and do not necessarily reflect those of LeapRate. This is not intended to be a trading recommendation.
LeapRate’s Daily Market Commentary: Risk appetite remains in place, particularly after German GDP data surpasses estimates appeared first on LeapRate.