DAX and FTSE 100 Technical Forecast: Danger of Reversal

Eurozone Index Value Evaluation & Information

• DAX | RSI Hints at Topside Exhaustion
• FTSE 100 | Dealing with First Important Take a look at

Supply: Refinitiv

DAX | RSI Hints at Topside Exhaustion

Modest good points for the DAX up to now this week as the chance pendulum swings to optimistic amid the elevated optimism that the US and China can attain a consensus on the part 1 deal. Nevertheless, upside within the DAX seems to be stalling with the index but once more capped round 13300, subsequently with the RSI trending decrease, eyes are for a transfer in direction of the 13000.

50DMA (12756), 100DMA (12398), 200DMA (12168)

DAX Value Chart: Every day Time Body (Dec 2017 – Nov 2019)

Supply: IG Charts

FTSE 100 | Dealing with First Important Take a look at

Following Friday’s notable bounce, the FTSE 100 has continued to press for higher ranges with the index above 7400. Nevertheless, the FTSE 100 seems to be going through its first important take a look at on the upside because it eyes the 23.6% Fibonacci retracement at 7440. Prior makes an attempt for a break above have been firmly rejected, as such, the FTSE 100 is susceptible to a modest pullback with assist seen at 7340.

50DMA (7288), 100DMA (7313), 200DMA (7315)

FTSE 100 Value Chart: Every day Timeframe (Dec 18 – Nov 19)

Supply: IG Charts

— Written by Justin McQueen, Market Analyst

To contact Justin, e-mail him at [email protected]

Comply with Justin on Twitter @JMcQueenFX