Stock index DAX 30 continue to move as part of the correction and the upward channel. At the time of the publication of the forecast, the exchange rate is 12950. Moving averages indicate a bullish trend. As part of the DAX 30 exchange rate forecast for December 11, 2019, we should expect an attempt to reduce and test the support level near the area of 12765. Where can we expect a rebound and continued growth of DAX 30 quotes in the area above the level of 13850.
DAX 30 Index Forecast and Analysis December 11, 2019
In favor of the growth of quotations of the stock index, a test of the ascending trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the growth option for the index quotes will be a fall and a breakdown of the 12605 area. This will indicate a breakdown of the lower boundary of the channel and a continued fall of the DAX 30 with a target below the level of 12150. Expect acceleration of the growth of quotations with a breakdown of the resistance area and closing above 13415.
DAX 30 Index Forecast and Analysis December 11, 2019 suggests an attempt to test the lower border of the ascending channel near the area of 12765. Then, continued growth with a potential target below the level of 13850. A test of the trend line on the relative strength index (RSI) will be in favor of raising quotes. Cancellation of the growth option will be a fall and a breakdown of the area of 12605. This will indicate a continued decline to the area below 12150.