Market comment ..
Hello my friends .. The European markets have stabilized on Tuesday with investors turning their attention to developments in economic news (PMI data), although concerns about developments in Europe remain. DAX at the meeting moved within a narrow range, marking a low of 12,983.38 m. and high at 13,055.65 m to close with marginal gains of + 0.08% to 13,013.19. staying short-lived over the support of EMA 9 at 12,989 m, a price level that was tested in conference
DAX 30
The German index remains close to its record moving above the local peak of 12,951 m a price level which could be a reliable stop loss in corrective movement.
The support is initially located in EMA 9 at 12,989 m, with its strength being located at the level of EM A 21 at 12,897 m and in the block of local peaks mentioned above.
The weakness shown by DAX to move above the level of 13,034 m. at the previous 3 meetings should not leave us unstoppable, because the fast stochastic ... moving into an overly-bought price band ... already gives us an output signal by cutting off its oscillator at 91 m ... while in the MACD ... there is a 20 m deviation between the oscillators, with an increased probability of being a reliable output signal to lower values with a potential target of 12,826 m where a small upward gap and a complex of diagonal supports are observed.
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