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DAX: Last resistances in the focus

The German stock market has shown a good performance in the recent weeks. 

bg_german_stock_exchange_1369827
Source: Bloomberg

These were the Fibonacci retracement at 9124 and 9305 and the weighted moving average (50 days) at 9116. The last one caused some problems. But this resistance was broken up too.

The DAX has now reached the trend line at 9425 and the weighted moving average (200 days) at 9444. Above the aforementioned resistances the technical improvement could continue to the trend line at 9795/9794.

If the German stock market is unable overcome the resistances at 9425/9444 a test of the Fibonacci retracement at 9305 would be possible. Further supports are the Fibonacci level at 9124 and the weighted moving average (50 days) at 9128. 

German stock market DAX on daily basis

Daxchart07112014
IG Charts

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