The German stock market closed the previous week in profits, as the strengthened media sectors, construction and technology. At the close of trading on the stock exchange in Frankfurt DAX 30 climbed 2.24%. Among the components of this index the highest rise in the last week showed stocks Thyssen Krupp AG, which gained 6.47%.
The German DAX 30 index has slowed growth on Friday. Index entered a phase of consolidation. The graph H1 200-EMA stopped the growth of quotations. Moving average with a period 100 is a support for the price.Resistance is located at 9760 and 9550 in the support.
On the 4-hour chart, MACD approaching zero zone, indicating the weakening position of sellers. RSI rebounded from oversold area, which also supports the customers.
Forecast for today
DAX Index may resume decline, and after breaking the mark 9550, the price will go to 9400 and the possible increase in the level of 9625.
Based on materials from Fort Financial Services