Daily analytical report (19/12/17)

2017-12-19T12:50:36

  • DAX continues the upswing that started on the 6th of December when the price defended the 12900 points support. In the meantime brokers broke the mid-term downwards trend line and created the bullish wedge. The new week starts with nice upswing and the breakout of 13190 points (grey).
  • EURCHF finally broke long term support created by the combination of the lower line of the wedge and the lower line of the channel up formation. Currently we are testing the latest support as a resistance. It is a great occasion for potential sellers in case there is a bounce there.
  • Volatility on oil decreases. The price is inside tight range that can be closed inside of the pennant formation. Some traders can see here a head and shoulders pattern with the lower line of the pennant making a neckline. For now, we have to wait for breakout with the trading decision.

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