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DAX shifts up a gear: support held & resistance exceeded – Donner & Reuschel column

The DAX 30 was now able to close the gap at 13,116 points. This now functions together with the 38-day line (12,959) as a support zone. The MACD trend-following indicator, however, remains neutral. The momentum, which has recently been oscillating close to zero, is now clearly positive again. The slow stochastic, on the other hand, is in the overbought area. The German benchmark index thus confirms its higher technical chart level overall. A re-test of the support area from 13,116 to 12,959 would still be nothing unusual. The nervousness of market participants remains. Hedges should therefore still be retained. An unexpected message can quickly turn back into “sales panic”. The next strategic hedge at 12,799 can then be started again very quickly. Before that, the 38-day line is currently supporting. The leading German index currently clearly reflects the future prospects. The markets can still do well for some time, despite bad news. Often, however, all that is needed is a small trigger or a change in the market view to bring about sudden sales. For today’s course of the day, the range can initially be classified between 13,263 and 12,959 (38-day line). It only gets critical at 12,500 (SKS). Looking up – leave the safeguards in place. Positive momentum and the Ichimoku indicator give hope. This also increases the likelihood of a possible year-end rally. The Upper Bollinger Band currently provides space for up to 13,356 index counters. Good foundation for rising prices.

– Next chart resistance: 13,263, 13,339, 13,500, 13,795
– Next important technical technical supports: 13.116, 13.035, 13.005, 12.799, 12.660
– Upper Bollinger Band: 13,356, Middle Bollinger Band: 12,871 and Lower Bollinger Band: 12,386
– 100-day line: 12,685 and 200-day line: 12,164 and: 38-day line: 12,959
– Indicators: MACD: neutral | Slow stochastics: overbought | RSI: neutral | Momentum: positive
– Ichimoku Kinko Hyo: positive
– The opening at 9:00 am is expected at around 13,160
– (Trailing) stop loss: 13.116, 13.035, 13.005, 12.799, 12.660 (depending on individual risk perception)

Primary trend (long-term): not yet back in lfr. Upward trend
Secondary trend (medium term): sideways mode
Tertiary trend (today): 13,263 – 12,959
DAX 30 remains at a high 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

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