The stock index DAX 30 is trading at the level of 12494.4. DAX 30 is trading above the moving average with a period of 55, indicating a bullish trend for DAX 30. Stock index benchmarks test the upper boundary of the Bollinger Bands indicator bars. The drop in quotations of the index near the level of 12440.0 is expected, where again we should expect an attempt to continue growth and further development of the bullish trend with the first target near the level of 12600.0.
Bollinger Bands DAX 30 Forecast on May 4, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at the level of 12400.0. The cancellation of the option for continuing the growth of DAX 30 will be the breakdown of the lower border of the bands, as well as the moving average with a period of 55 and the closing of the quotations of the index below the area of 12300.0, which indicates a change in the trend in favor of the bearish DAX 30. In the event of a breakdown of the upper boundary of the indicator bands, The growth of the exchange’s index in the area above the level of 12600.0.
