Markets

DAX – Crash to the September low is bought first

Yesterday’s trading day was marked by a massive bearish reversal: After a strong start of trading and an initial rally, the bears took over, the daily profits melted rapidly with the falling US markets. Today the DAX® opens clearly in the red after weak conditions at the September low, where the buyers are initially. The opening gap was almost closed with the subsequent recovery, now the index is tilting again.

The short-term chart remains badly damaged. It is still unclear whether the support will bottom out at 12,500 – 12,525. In principle, the index remains vulnerable to further falling prices in the course of the downtrend lasting several days.

Initially, however, another wave of recovery could follow intraday. At 12,640-12,650 and 12,690-12,700 points there are resistance levels for further recovery.

However, if the index slips back below 12,500 for a long time, further sell signals arise for sales up to 12,250 – 12,260 points. Larger buy signals only arise above 12,860 points.

DAX® in points hourly chart; 1 candle = 1 hour (logical candle chart display)

Observation period: August 31, 2020 – September 24, 2020. Historical considerations are not reliable indicators for future developments. Source: Guidants.com

DAX® in points monthly chart; 1 candle = 1 month (logical candle chart display)

Observation period: 01.09.2015 – 24.09.2020. Historical considerations are not reliable indicators for future developments. Source: Guidants.com

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Turbo Bull on DAX® Index for speculation on an increase in the index

UnderlyingWKNSelling price in EURBase price / knock-out in pts.leverlast valuation day
DAX® indexHR0G3N 16.2310,9757.7510/30/2020
DAX® indexHR16F6 4.1712,20030.33December 15, 2020
Source: HypoVereinsbank onemarkets; 09/24/2020; 11:16 a.m.

Turbo Bear on DAX® Index for speculation on a price loss of the index

UnderlyingWKNSelling price in EURBase price / knock-out in pts.leverlast valuation day
DAX® indexHR14JZ 31.7415,7253.9611/30/2020
DAX® indexHR15JY 21.7014,7255.8011/30/2020
Source: HypoVereinsbank onemarkets; 09/24/2020; 11:17 am
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The contribution to the DAX crash to the September low is initially bought first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).

Author: André Rain

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