empty
 
 
28.10.2015 03:48 PM
Technical analysis of DAX for October 28, 2015

This image is no longer relevant

Technical outlook and chart setups:

The DAX has retraced to Fibonacci 0.618 levels and reversed from the level of 10,863 on October 26, 2015. A drop from recent highs seems to be corrective in nature and another test cannot be ruled out. But looking at the overall structure, the next big move should be done towards 8400. It is hence recommended to initiate 50% short positions remaining around 11,250 with risk at 11,350. Immediate support is seen at 10.200 followed by 9,900 and lower, while resistance is seen at 10,900 (interim) followed by 11,115 and higher.

Trading recommendations:

Initiate 50% short positions remaining around 11,250, with stop at 11,350 and a target is open.

Good luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback