Markets

DAX® – one step forward, one step back

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One step forward, one step back

After the price gains at the beginning of the week, the DAX® saw further gains yesterday. The equity barometer continues to capitalize on Monday’s upward gap at 12,690 / 12,728 points. Nevertheless, the German standard values ​​are fixed in the area of ​​the 50-day line (currently at 12,887 points). And then there is the downward gap of September 21, which is extremely important in terms of chart technology (12,999 to 13,116 points). The old trailing edge then plays an absolutely key role: Closing this price gap is necessary in order to free the German “blue chips” from the lethargy of recent months and to lay the foundation for a continuation of the recovery impulse since the end of March in the seasonally favorable phase of the 4th . Quarterly. The importance of this price band without a quotation is additionally underpinned by the correction trend that has existed since the beginning of September (currently at 13,049 points) (see chart). A liberation would therefore have the charm that the price development of the last few weeks could be interpreted as a trend-confirming flag if successful. Unfortunately, this scenario is currently a long way off, as the DAX® is likely to struggle with the weak targets at the opening.

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DAX® (Daily)

Chart DAX®

Source: Refinitiv, tradesignal

Triangle + 38-day line as a clock

The gold price has been in consolidation mode since the beginning of August and the previous all-time high of USD 2,072. Over the course of the year, we repeatedly emphasized the importance of the USD 1,800 mark. This level is also predestined as a strategic safeguard for existing precious metal exposures. In other words: as long as the phase of breathing described above takes place above the 1,800 mark, the gathering of strength can be described as fundamentally healthy. On a daily basis, the gold price currently forms a classic triangular pattern (see chart). Interestingly, the upper limit coincides almost exactly with the smoothing line of the last 38 days (currently at USD 1,928). Recapturing the moving average would therefore go hand in hand with a dissolution of the consolidation formation discussed. Successfully setting the course thus signals that the precious metal has filled up enough power and the above Rather, the record high at USD 2,072 is being targeted again. The MACD could help in a breakout to the north, because the trend follower is currently working on a new entry signal.

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Gold (daily)

Chart gold

Source: Refinitiv, tradesignal

Like a Swiss watch

From the “picture book chart” identified at the beginning of June, the Trade Desk share has been able to capitalize on textbooks in the last few months (see “HSBC Daily Trading” of June 4th). The breakout of a chart-technical consolidation pattern with high relative strength (Levy) at the same time ensured the existence of one of our absolute favorite trading approaches. And current? Could history repeat itself? Since the title still has a high RS coefficient and was able to break up another trading range in the past week (see chart), the chances of this are not bad. The current uptrend is not only absolutely intact, but has recently received additional confirmation. The height of the sliding zone results in a calculated (minimum) target price of around USD 600. But the current course of the course also provides an important guide in terms of risk. Investors can use the upper limit of the most recent trading range at around USD 500 as a stop loss to secure profits from old commitments or to hedge new long positions closely.

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The Trade Desk (Weekly)

Chart The Trade Desk

Source: Refinitiv, tradesignal

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