Dax Outlook 2017 W04
![Dax Outlook 2017 W04](https://www.marwac.com/wp-content/uploads/2017/01/20170122_Dax_Outlook.png)
The Dax tested the lower Bollinger Band but moved mostly sideways last week.
The MACD is negative, the RSI at 64.31 and the VDAX fell to 14.23.
For a continuation of the rallye the 11’650 level needs to be held on the daily closings. Then the next goal would be 11’800. Nevertheless setbacks to around 11’400-11’200 are still possible.
The tightening of the Bollinger Bands shows decreasing volatility and could lead to a sharp move in either direction when the breakout happens.
Support:              11’600, 11’400, 11’380, 11’286,11’200,11’000, 10’800, 10’570,10’380, 10’320, 10’150,10’100, 9’930, 9’850, 9’750, 9’600, 9’360, 9’214, 9’000, 8’903, 8’500
Resistance:           11’800, 12’200, 13’500, 14’000, 14’500