Review: The DAX broke above the important resistance area at 11,150 / 11,200 points on Monday. Previously, the DAX had fluctuated sideways between around 10,300 and 11,200 points since the beginning of April. With the breakthrough above 11,200 points, the important long-term Fibonacci subjects at 11,150 points and the 50% Fibonacci retracement were also sustainably conquered in the weekly chart. After the breakthrough, the DAX immediately showed further enormous strength and already reached the important 61.8% retracement at 11,678 points on the previous day. In the daily high, 11,747 points were reached, but then the bell went down to 11,657 points again. The DAX trades again significantly higher by 11,800 points early Thursday morning.
Outlook: With the breakout above the Fibonacci fan at 11,150 points, clear upward energy has been released in the DAX. The DAX has exploded and also brightened its long-term situation.
The long scenarios: The DAX is classified long above the Fibonacci fan in the weekly chart. The next starting point is now at the 61.8% fibonacci retracement mentioned in the weekly chart at 11,678 points. If the breakthrough succeeds in regular trading, the 200 EMA would be targeted by the bulls on the daily chart at 11,725 points. In addition, the situation for the DAX would brighten again significantly and a run-up to 11,800 and 12,000 points would be expected.
The short scenarios: The DAX cannot rise above the 200 EMA and sags again. The first big starting point would be the support for 11,300 points. Among them, the Fibonacci fan at 11,150 points and the 50 EMA at 10,898 points should stop the bears.
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