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DAX® – upward trend to an all-time high

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DAX® – upward trend to an all-time high

The DAX® was able to implement the positive signals of the previous week on Monday yesterday with a new three-week high of 13,151 points. The intact, initially well-functioning buy signal of the MACD indicator on a daily basis indicates that the important seven-month high on a closing price basis can also be overcome soon. This is from September 16 and is at 13,255 points. If such an outbreak succeeds, the robust resistance zone between 13,460 and 13,500 points will still stand in the way of a return to the all-time high at 13,795 points. In view of the nice rally since the beginning of October, interim consolidation is definitely permissible. The horizontal intraday zone increased by 11,900 / 11,960 points from the 55-day average serves as a support. The upward trend line, which arises at the crash low and is also defined by the lows of late September and early October, is also already in the 12,800 range. If this trend line remains intact, the chances are good that the German blue chip index could break out to a new all-time high in November at the latest.

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DAX® (Daily)

Chart DAX®

Source: Refinitiv, tradesignal online

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