Fraudulent websites posing to have a connection with JFD
Please be aware of fraudulent websites
posing as JFD's affiliates and/or counterparties
The German DAX cash index traded higher on Thursday, after it hit support near the 12100 area. The rebound brought the index above 12200, to test levels last seen on October 5th. The recovery continued today as well, but the bulls found resistance near the 12265 zone defined by the high of that day. On the 4-hour chart, we see that the index continues to print higher peaks and higher troughs above the upside support line drawn from the low of March 25th and thus, we would consider the near-term picture to be positive.
A break above 12265 could encourage the bulls to drive the battle towards our next resistance hurdle at 12375, which is near the highs of October 1st and 3rd. If they are not willing to hit the brakes near that level, a move higher may pave the way to the 12460 zone, defined by the highs of September 21st and 27th. That said, before the next positive leg, we see the case for a corrective retreat, perhaps for the price to test the 12200 area as a support this time, or even the aforementioned upside support line.
Although the MACD is still above both its zero and trigger lines, the RSI has topped within its above-70 zone. This suggests that the upside momentum may start to ease somewhat and supports the notion for a small pullback before the next leg north.
On the downside, we would like to see a dip below 12100 before we start examining whether the bulls have abandoned the action, at least in the short run. Such a dip would bring DAX below the upside support line and may initially open the path towards the 12035 area, which provided resistance on April 4th, 12th and 15th. If the slide does not end there, we could see extensions towards the 11965 area, the break of which may set the stage for the low of April 12th, at around 11880.
The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. The Group of Companies of JFD, its affiliates, agents, directors, officers or employees are not liable for any damages that may be caused by individual comments or statements by JFD analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. Accordingly, you should seek, if you consider appropriate, relevant independent professional advice on the investment considered. The analyses and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyses and must therefore be viewed by the reader as marketing information. JFD prohibits the duplication or publication without explicit approval.
76% of the retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please read the full Risk Disclosure.
Copyright 2019 JFD Group Ltd.
Fraudulent websites posing to have a connection with JFD
Please be informed that, the below listed websites fraudulently misrepresent to have a connection with JFD and have infringed with JFD’s rights and trademarks in order to defraud users of their personal data, registration data and funds.
Unfortunately, JFD cannot guarantee that the list is exhaustive or always up-to-date and refers only to the websites that were brought to our attention. Therefore, if an investor is in doubt about the connection of any website with JFD, or spots a website that is substantially similar in design, structure and content to JFD’s website, please contact us at support@jfdbrokers.com and we will take all necessary actions to report it and protect other investors from being defrauded.
For your further reference and the avoidance of any doubts, feel free to check the full list of JFD’s web domains approved by CySEC.