Stock index DAX 30 continue to move as part of the correction and the formation of the bullish Wave Wave pattern. At the time of the publication of the forecast, the exchange rate is 13097. Moving averages indicate a downward trend. As part of the DAX 30 exchange rate forecast for December 12, 2019, we should expect an attempt to lower and test the support level near 12945. Where can we expect a rebound and continued growth of DAX 30 quotes in the region above the level of 13750.
DAX 30 Index Forecast and Analysis December 12, 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 Wolfe Wave model. Cancellation of the growth option for the index quotes will be a fall and a breakdown of the area of 12635. This will indicate a breakdown of the lower boundary of the channel and a continuation of the fall of the DAX 30 with a target below the level of 12030. Expect acceleration of the growth of quotations with a breakdown of the resistance area and closing above 13365.
DAX 30 Index Forecast and Analysis December 12, 2019 suggests an attempt to test the lower border of the rising channel near the area of 12945. Then, continued growth with a potential target below the level of 13750. 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 12635. This will indicate a continued decline to the area below 12030.
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