DAX: Slow start, no crash – Donner & Reuschel column

The 200-day line remains the important indicator in the DAX 30 even at the start of the week. Despite the current nervous situation, various trend-following indicators also support today. A decrease to 11,828 would therefore be possible in the short term. However, this would not be a crash trigger. The consumer climate index of the EU countries is expected to be fundamental today. A decline is predicted. By contrast, German consumer confidence is expected to rise again from a low level. The DAX 30 is therefore set to have a cautious start to the week today. This will most likely play out between 12,060 and 11,828 during the course of the day. The trend following indicators (MACD, IKH) are currently neutral. The short-term slow stochastics are also neutral and are already approaching the oversold territory. The Upper Bollinger Band continues to provide a medium-term range of up to around 12,900 index points. All chart and market technical indicators continue to speak for a continuation of the overall sideways trend. Declines in prices have been used repeatedly in the past few weeks and offered good entry opportunities. The Damocles sword “Second Corona Wave” must not be wiped away. Therefore, with the DAX 30, hedges in the range 11,968 to 11,625 should be maintained depending on the start and individual risk perception. The DAX 30 is further flanked by uncertainty and nervousness. The supports at 11,968 and 11,828 therefore offer good direction marks and cornerstones. The start of the week is slow and nervous. The signs are not on “crash” …

– Next technical chart resistances: 12.141, 12.471, 12.764, 12.913
– Next important chart support: 11.968, 11.828, 11.625
– Upper Bollinger band: 12,914, middle Bollinger band: 12,282 and lower Bollinger band: 11,649
– 100-day line: 11,357 and 200-day line: 12,156 and: 38-day line: 11,670
– Indicators: MACD: neutral | Slow stochastics: neutral | RSI: neutral | Momentum: weaker
– Ichimoku Kinko Hyo: short term: neutral | medium-term: trend-confirming (!)
– Volatility (VDAX-NEW): 37.52
– The opening at 9:00 a.m. is expected at around 12,100
– (Trailing) stop loss: 11,968, 11,828, 11,625

Primary trend (long-term): Not yet back in lfr. Upward trend
Secondary trend (medium term): 12,913 – 11,625
Tertiary trend (today): 12,060 – 11,828
200-day line continues to be highly competitive

Disclaimer: The text is a column of the Martin Utschneider, Head of Technical Analysis Markets at Donner & Reuschel. The content of the column is not the responsibility of 4investors and therefore does not necessarily have to agree with the opinion of the 4investors editorial team. Any liability and claims are therefore expressly excluded by 4investors!

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