Markets

DAX – A friendly start to the week

It remains highly volatile in the DAX®. If the index was still clearly sold on Friday, buyers are starting the week in a friendly way. An important support in the hourly chart lasted initially.
This is the support at 12,545 points, which corresponds to the 61.8% fibonacci retracement over the upward range from 12,341 points to 12,873 points. The DAX® defended this twice in a row, thus preserving the chance of a second upward wave. The recovery on Friday evening continues today via the opening gap. The 12,873 point mark now acts as a key resistance.

The recovery could end there and the index could drift south again. If, however, a breakout above this price level succeeds, a trend reversal in the hourly chart would take place, which releases potential in the direction of the gap between 12,999 and 13,116 points.

On the other hand, the buyers would have missed their chance below 12,545 points and the DAX® could head back towards the most recent low at 12,341 points.

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

Observation period: 17.09.2020 – 05.10.2020. Historical considerations are not reliable indicators of future developments. Source: Guidants.com

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

Observation period: October 1st, 2015 – October 5th, 2020. Historical considerations are not reliable indicators of 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 18.1110,9757.0610/30/2020
DAX® indexHR16F6 5.9512,20021.52December 15, 2020
Source: HypoVereinsbank onemarkets; 05/10/2020; 11:12 am

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 29.9315,7254.2711/30/2020
DAX® indexHR15JY 19.9314,7256.4111/30/2020
Source: HypoVereinsbank onemarkets; 05/10/2020; 11:14 am
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The contribution DAX – A friendly start to the week first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).

Author: Bastian Galuschka

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