DAX: stable and solid again – Donner & Reuschel column

The German benchmark index will again trend well above the 13,000 mark. The chart and market warning signals have been noticeable since last Friday. The DAX 30 was also able to hold a very important support mark: the 12,799. He tested this for four days in a row, but never (!) Fell below it. The area at 12,500 corresponds to the neckline of a shoulder-head-shoulder formation that is now well turned away. A sustained break in the 12,500 neckline could have caused the German leading index to drop to around 11,700 index points. The “real source of danger” is therefore 12,500. As expected (see D&R analyzes of the last few days), the market remains highly sensitive in the short term and susceptible to unexpected and negative reports. Hedges (stop loss or take profit) should therefore continue to be strictly maintained or followed up. Today’s daily range can now be classified between 13.266 and 13.005. No changes are expected from the ECB interest rate meeting today. It is now necessary to tighten the hedges in accordance with the stabilization and the latest price development. The repeated holding of the support level at 12,799 points has never given the German leading index the necessary stability. The informative value of the chart and market brands, especially in phases of irrational movements and market reactions, is shown again and again, especially in such phases.

– Next chart resistance: 13,266 (Upper Bollinger Band), 13,313, 13,500
– Next important technical support: 13.072, 13.005, 12.799, 12.500 (neckline)
– Upper Bollinger Band: 13,266, Middle Bollinger Band: 12,995 and Lower Bollinger Band: 12,755
– 100-day line: 12,158 and 200-day line: 12,197 and: 38-day line: 12,897
– Indicators: MACD: neutral | Slow stochastics: neutral | RSI: neutral | Momentum: oscillating around zero
– Ichimoku Kinko Hyo: neutral
– Volatility (VDAX-NEW): 29.13
– The 9am opening is expected at around 13,240
– (Trailing) stop loss: 13,072, 13,005, 12,799, 12,500 (depending on individual risk perception)

Primary trend (long-term): not yet back in lfr. Upward trend
Secondary trend (medium term): sideways movement
Tertiary trend (today): 13,266 – 13,005

Disclaimer: The text is a column of the Martin Utschneider, Head of Technical Analysis Markets at Donner & Reuschel. 4investors is not responsible for the content of the column 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 share index


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