Oct. 5: Support & Resistance Levels for DAX & CAC - Forex News by Strategia Forex

Oct. 5: Support & Resistance Levels for DAX & CAC

Posted Thursday, October 5, 2017 by
Arslan Butt • 1 min read

I'm seeing DAX, the German stock market index, it has reached the overbought zone. On the daily chart, we can see a "Hanging Man" the candlestick pattern. As we know, it signifies a reversal pattern. So, it's very likely to initiate the sell in DAX.

 

Let's take a look at weekly trading levels for the DAX (German Index) & CAC (France Index). In addition, refer to FX leader support and resistance trading strategy article in order to trade below levels profitably.

 

DAX – Weekly Trading Levels

Support               Resistance

S1: 12,634.69       R1: 12,642.85

S2: 12,564.60       R2: 12,931.69

S3: 12,451.15       R3: 13,150.60

Key Trading Level: 12,748.15

 

CAC40- Weekly Trading Levels

Support              Resistance            

S1: 5,274             R1: 5,332.58

S2: 5,256             R2: 5,350.61

S3: 5,227             R3: 5,379.80

Key Trading Level: 5,303.40

 
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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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