Review: The German stock index launched an attack on the 12,950 point mark yesterday. But this attempt failed at 12,936 points. The day’s high was there. The index then had to cope with severe losses again, as the bears pushed the DAX back to a daily low at 12,746 points. Only then did they fight back the bulls and the index was able to regain the 12,800 point mark on a daily closing price basis. The resistance zone between 12,950 points and 13,000 points has been strengthened by this bearish rebound.
Outlook: The technical situation on the chart has deteriorated further in recent trading days. But not everything has been lost for buyers. After 1 or 2 positive trading days, the situation would be more relaxed for buyers.
The short scenarios: below the 13,000 point mark, however, the downside risks dominate. Therefore, you should allow for a drop to 12,500 points. It would only be really dangerous for the bulls after a daily closing price below 12,000 points.
The long scenarios: recapturing the roughly 13,000 point mark would be a bullish sign. In this case, the index should be able to quickly form a new history high above 13,313 points.
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!
At a glance – chart and news: DAX stock index