The gap at 13,500 was the expected resistance. Now 12,913 continues to act as the next hurdle. The range between 12,913 and 12,812 continues to determine what happens in the DAX 30 today. The trend-following indicators (MACD, IKH) continue to stabilize today. The short-term slow stochastics continue to reduce their overbought situation. It has almost returned to oversold territory. Fundamentally, some important data are published today. German unemployment figures are forecast to decline. But also German and US GDP. The drop height has increased noticeably recently. Therefore, the take-profit and stop-loss brands should be strictly maintained depending on your personal risk perception. All in all, there is still a positive pattern for the leading German index. It is borne by a still positive momentum. This has stabilized again. The February gap capped noticeably at 13,500 (!). Before that, the Upper Bollinger Band at 13,215. Today’s Thursday remains with the last intact sideways range (12,913 to 12,812). The “buying panic” that prevailed a few days ago has given way to a wait-and-see attitude. Five dojis in a row testify to this. Today, the DAX will move towards 12,913 again. The 12.812 form a technical double floor. The US Fed maintains its zero interest rate policy and wants to keep interest rates low until the US economy has overcome the current crisis. Ultimately, curbing the coronavirus pandemic will be crucial, said Fed chief Jerome Powell.
– Next technical chart resistances: 12.913, 13.147, 13.224, 13.314, 13.500
– Next important chart support: 12.812, 12.773, 12.536
– Upper Bollinger band: 13,215, middle Bollinger band: 12,720 and lower Bollinger band: 12,154
– 100-day line: 11,247 and 200-day line: 12,209 and: 38-day line: 12,537
– Indicators: MACD: neutral | Slow stochastics: neutral | RSI: neutral | Momentum: positive
– Ichimoku Kinko Hyo: short term: neutral | medium-term: trend-confirming (!)
– Volatility (VDAX-NEW): 26.04
– The opening at 9:00 a.m. is expected at around 12,860
– (trailing) stop loss: 12,812, 12,773, 12,536 (depending on individual risk perception)
Disclaimer: The text is a column of the Martin Utschneider, Head of Technical Analysis Personal-Financial.com 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!
At a glance – chart and news: DAX stock index