Stock indexes in Europe fell on Friday against the background of declining oil prices and rhetoric chairman of the Central Bank, Mario Draghi.
The current situation
index DAX 30 began trading with a gap down. The index jumped from 9760 to 10085 mark on its way DAX30 broke through support at 1,000, testing the 9760 resistance level is located at 10000, support is at 9760.
Histogram MACD is in the negative zone. Signal line stored in the histogram. MACD declines. If the indicator will continue to decline, a signal from it will be in favor of sales. RSI Oscillator is in the oversold zone, which is seen as a buy signal. Moving averages (50, 100 and 200) punched index down and left far behind. On the daily chart the price close to the strong resistance of 9760
forecast the DAX 30 index is oversold, falling for three consecutive days. Index approached close to the strong support of the day. All these factors can lead to the DAX30 correction. In case of recovery the index will continue to grow in the direction of 10000. Alternatively, in the case of growth failure, quotes will drop to 9550.
Source Fort Financial Services