Review: At the end of September, the DAX fell below a short-term upward trend line that had dominated since the support at 12,207 points was defended and then returned to the area of this support. At the end of September, the buyers managed to defend the brand and thus prevent a large sell signal. Another increase followed, but this time it was interrupted in the area of 13,200 points. A strong sell-off weighed on last Thursday, but this was countered again on Friday from a low near the support at 12,633 points.
Outlook: The DAX is in the middle of a massive battle for direction and both sides of the market are currently only using their opportunities half-heartedly. At the moment the bears have better cards again. The only question is how long.
The short scenarios: Should the DAX not rise above 13,000 points now, a further decline to 12,750 points would be expected. There it is then decided whether a further upward movement can take place or whether the index is passed through to 12,633 points and below that to 12,539 and 12,207 points. At this point, another major increase could follow.
The long scenarios: Above 13,000 points, however, an attack on the interim high at 13,151 points would be likely. There, the sellers could strike another counterstrike. If, on the other hand, the index rises above the mark, a long signal would be activated, which is likely to be followed by a buying wave up to 13,313 points and above even up to 13,460 points.
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!
At a glance – chart and news: DAX share index