DAX: 13,000 points almost reached – UBS column

Review: The DAX continues to move in the increasing trend channel and was able to confirm its lower limit in the previous week with the low points at 12,416 points on July 10 and 12,535 points on July 14. After the DAX closed trading on Tuesday at 12,697 points, the leading index opened the previous day with an upward gap at 12,812 points. A jump of over 100 points. This once again underlines the enormous volatility in the DAX, which had started trading with an upward or downward price gap in the past few weeks. In the daily high, the DAX then reached 12,999 points, barely failing due to the psychologically important 13,000 point mark. The upper limit of the falling trend channel is currently running here.

Outlook: The DAX is trading significantly lower again in the 12,835 point range on early Thursday. Despite the increase from the previous day, the long sideways movement continues for the time being.

The long scenarios: The DAX can continue to rise this Thursday and hit and break the 13,000 mark during the day. If a sustainable breakthrough is achieved here, the bulls could head for the still open gap at 13,500 points on February 21. The all-time high at 13,795 points should then follow.

The short scenarios: On the underside, the focus is on the lower limit of the rising trend channel at currently 12,700 points. If this is broken down, stronger downward dynamics could quickly develop after the long sideways movement. The target zone for the bears would then be massive support at 12,000 points. With a long downward movement, prices below the 200 EMA at 11,917 points would be expected.

Disclaimer: The text is a column of the UBS. 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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