Markets

DONNER & REUSCHEL – Technical analysis DAX 30 (daily): No bull market – bears continue to scratch their fur …

The DAX 30 will test its potential upwards today. To do this, he will be the first 11,090 negotiate.

After that it will be seen whether the strength is also for 11,247 enough. The possibility of a long-term technical chart W formation remains as long as 11,447 (Gap closing) are not exceeded.

The market-technical indicators are clearly overheated for today. It remains superior skepticism consist. The recent short-term euphoria can quickly turn into profit-taking again.

Therefore, the short term Stop marks to be maintained at 10,820 to 10,525. The psychology of the markets should not be underestimated. Cheers quickly turn into “sales rage”.

The economy is on the floor for the first two quarters of 2020. Today’s GDP figures for promise a decline of 2.2 percentage points for Germany’s economy in the first quarter.

The Ifo Business Climate Index is expected with a small increase. However, it is questionable whether this gives the necessary sustainable strength.

The tensions between the United States and China flare up again. A resurgence of the Trade disputes seems very likely.

In addition to the fear of a “second corona wave“Of course, poison for the latest rally gen 11,250.

Today’s Daily bandwidth will play out between 11,195 and 10,820.

There are many indications of a further sagging. The market technology has run hot. The (geo-) political tensions also pick up speed again. The DAX is not in the bull market. The Bears continue to scratch the fur.

A dynamic drawdown towards 10,100 Technically, counters are still possible.

Conclusion:

  • Still no final outbreak up
  • Daily bandwidth: 11.195 – 10.820

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