Technical Update - DAX/GER40 cfd flirting with key support| FXMAG.COM

GER40 Future/CFD testing key support. 13,000 is key support for DAX. Sellers trying to push it below, buyers lifting it.

As can be seen on the 1 Hour chart GER40 is pushed below, buyers trying to lift it back above. There is Divergence on RSI indicating we could see a rebound. However, if GER40 takes out 12,937 and RSI breaks the rising trend line, a sell off could be fueled.

If buyers succeed in lifting GER40 back above the falling trend line on the 1 hour chart we could see a move to 13,500

Source: Saxo Group

If the DAX cash Index closes the day below 13,000 March lows are likely to be tested and possible taken out. At the end of the day the DAX cash Index is where the real interest is

Source: Saxo Group

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Source: Technical Update - DAX/GER40 cfd flirting with key support | Saxo Group (home.saxo)

Kim Cramer Larsson

Kim Cramer Larsson started his career in 1996 as an equities trader focusing on the US and Asian markets with BG Bank, London. In 1997, Kim relocated to BG Bank, Copenhagen (BG Bank was acquired by Danske Bank in 2000) to the position of equities trader and portfolio manager.

Kim began using technical analysis as a trading tool from 1997. In 2005, Kim was promoted to the position of technical analyst in the FX & Fixed Income Research department at Danske Bank. In his current role, Larsson focuses on technical analysis of equities, equity indexes, forex pairs, and more for Saxo Bank. Larsson’s views and analyses can be found on Saxo’s News & Research hub as well as at Saxo’s Academy where he hosts webinars focusing on chart analysis.

Kim Cramer Larsson

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