Stock index DAX 30 is trading at 11748. 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 11850, from which you should expect an attempt to rebound and continue falling index with a goal near the level of 11350.
DAX 30 forecast & technical analysis October 18, 2018
An additional signal in favor of reducing the stock index will be a test of the resistance level. Previously, a weak signal was received for sell of the DAX 30, due to the crossing of the signal lines at 12350.
Cancellation of the fall in quotations of the stock index will be a breakdown of the upper limit of the Ichimoku Kinko Hyo Cloud with the close of quotes above the 12050 region, which will indicate a change in the downward trend in favor of upward and continued growth. Expect to accelerate the fall of stock index quotes stands with the breakdown of support and closure below the level of 11,550.
DAX 30 forecast & technical analysis October 18, 2018 suggests an attempt to test the resistance level near the area of 11850, from which we can expect a rebound and the continuation of the fall of the stock exchange index with a potential target near the level of 11350.