Review: Since the second rise above the resistance at 12,207 points at the end of June, the DAX has been in a sideways range in the large picture, which is limited on the upside by the hurdle at 13,313 points. Although this mark was briefly exceeded at the end of August, the momentum at that time was not enough for a sustainable buy signal. The index then collapsed back to the support at 12,207 points. A further recovery started shortly before the mark, which most recently led back over the hurdle at 12,886 points. At the 13’075 point mark, however, the rise lost momentum.
Outlook: The DAX could continue its recovery in the coming days. The lack of upward momentum and the failure at the hurdle at 13,075 points, however, speak for a countermovement.
The long scenarios: First of all there could be a correction to the previous hurdle at 12,886 points. There the buyer side could become active again and initiate the next attack on the hurdle at 13,075 points. If the mark is exceeded, there would be an attack on the resistance at 13,200 and 13,313 points. Should the latter mark be broken, there would be an increase of up to 13,500 points.
The short scenarios: A relapse below 12,886 points would be problematic at the moment. In this case, the outbreak of the last few days would have to be questioned and a sell-off of up to 12,750 points could be expected. There, the buyer side could intervene again. If, on the other hand, the level falls below the mark, a sell signal would be active and initially a drop of up to 12,633 points would be expected.
Disclaimer: The text is a column of the UBS. 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!