Stock index DAX 30 continue to move in the framework of the correction and the beginning of the development of the «Triangle» model. At the time of the publication of the forecast, the exchange index rate is 11902. Moving averages indicate a downward trend. As part of the DAX 30 stock exchange rate forecast, on May 31, 2019, we should expect an attempt to grow and test the resistance level near the area of 11985. Where should we expect a rebound and the continuation of the fall of the DAX 30 quotes to the area below the level of 11605.
DAX 30 Index Forecast and Analysis May 31, 2019
In favor of falling stock index quotes, a test of the downward trend line on the relative strength index (RSI) will be made. As well as a rebound from the lower boundary of the model «Triangle». Cancellation of the option of falling index quotations will be a strong growth and a breakdown of the area 12165. This will indicate a breakdown of the upper limit of the model and continued growth of the DAX 30 with a target above the level of 12550. Wait for the fall in quotations to accelerate with the breakdown of the support area and close below 11785.
DAX 30 Index Forecast and Analysis May 31, 2019 implies an attempt to test the lower limit of the «Triangle» model near the area of 11985. Then, the continuation of the fall with the potential target below the level of 11605. A test of the trend line on the relative strength index (RSI) will favor falling prices. Cancellation of the reduction option will be a strong growth and the breakdown of the area 12165. This will indicate a continuation of the rise in the area above 12550.
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