As expected, the DAX 30 tested the 12,799 support again yesterday. And successfully. Today he will try his hand at the 13,035 “one floor up”. The overriding sideways trend will be retained for the time being, but this could build up momentum again. The MACD trend following indicator is evidence of this. The momentum, which has recently been oscillating close to zero, remains in negative territory for the time being. In any case, the leading German index today confirms its elevated technical level. This means that the neck line (12,500) of the shoulder-head-shoulder formation remains untouched today. In summary, the situation remains very volatile in the medium term. The expansion of the Bollinger Bands (13,414 to 12,366) is an indication of this. The Middle Bollinger Band (12,890) is exceeded today. The nervousness of the market participants remains. Hedges should therefore still be retained. An unexpected message can quickly turn back into “sales panic”. The hedge at 12,500 (neckline of the shoulder-head-shoulder formation) can then be started again very quickly. Nervousness and insecurity are breeding grounds for irrational rashes. For today’s course of the day, the range can initially be classified between 13,035 and 12,799 meters. A re-test of the 12,799 would not be dramatic, however. It only becomes critical at 12,500. In the meantime, Deutsche Börse is planning to expand the DAX from 30 to 40 companies and is planning stricter requirements and criteria.
– Next chart resistance: 13.005, 13.035, 13.116
– Next important chart technical supports: 12,799, 12,660, 12,500, 12,313, 12,045
– Upper Bollinger Band: 13,414, Middle Bollinger Band: 12,890 and Lower Bollinger Band: 12,366
– 100-day line: 12,627 and 200-day line: 12,167 and: 38-day line: 12,947
– Indicators: MACD: affirmative | Slow stochastics: neutral | RSI: neutral | Momentum: negative
– Ichimoku Kinko Hyo: positive
– The opening at 9:00 am is expected at around 13,000
– (Trailing) stop loss: 12,799, 12,660, 12,500, 12,313, 12,045 (depending on individual risk perception)
Primary trend (long-term): not yet back in the lfr. Upward trend
Secondary trend (medium term): sideways mode
Tertiary trend (today): 13,035 – 12,799
DAX 30 still at a higher level
Disclaimer: The text is a column of the Martin Utschneider, Head of Technical Analysis Personal-Financial.com 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