DAX: Solid but not euphoric – Donner & Reuschel column

At the end of the week, the German leading index will again be clearly above the psychologically important 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 overhanded this for five days in a row, but never (!) Fell below it sustainably. Only an intraday movement caused it to drop below for a short time. The countermovement followed immediately. 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. The market remains highly sensitive in the short term and prone to unexpected and negative reports. This was also the case with yesterday’s ECB press conference. 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 13.208 and 13.005. 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. The technical market indicators testify to a sideways trading day. Both MACD and slow stochastics tend to be neutral. The momentum is oscillating in positive territory.

– Next chart resistance: 13.208, 13.293 (Upper Bollinger Band), 13.313, 13.500
– Next important technical support: 13.072, 13.005, 12.799, 12.500 (neckline)
– Upper Bollinger Band: 13,293, Middle Bollinger Band: 13,015 and Lower Bollinger Band: 12,737
– 100-day line: 12,214 and 200-day line: 12,197 and: 38-day line: 12,910
– Indicators: MACD: neutral | Slow stochastics: neutral | RSI: neutral | Momentum: positive
– Ichimoku Kinko Hyo: sideways / neutral
– Volatility (VDAX-NEW): 25.84
– The opening at 9:00 am is expected at around 13,180
– (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): 13.208 – 13.005
Short term uptrend continues to leave

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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