Markets

DAX – in the bears’ stranglehold before the ECB decision

The DAX® could not overcome the short-term relevant downtrend line in the hourly chart in yesterday’s trading and temporarily slipped below 11,500 points during trading. At times the sale was panicked. The countermovement on Wednesday morning has so far been rather weak on the chest and (so far) has not exceeded 11,650 points.

In the afternoon, the ECB decision and the subsequent press conference by and with ECB boss Lagarde are on the calendar. US GDP is expected shortly before that. It should therefore be another very turbulent afternoon, especially since Apple and Amazon, among others, are reporting after the market has closed.

From a purely technical point of view, a strong downward trend continues to dominate in the hourly chart – if this trend line in the hourly chart can be overcome, a greater technical recovery towards 11,800 points – potentially significantly higher – would be conceivable.

However, below the outlined trend line, further sales cannot be ruled out in the next 24 hours. The momentum continues to favor the bears (for the time being …).

DAX® in points hourly chart; 1 candle = 1 hour (logical candle chart display)

Observation period: 17.09.2020 – 29.10.2020. Historical considerations are not reliable indicators of future developments. Source: Guidants.com

DAX® in points monthly chart; 1 candle = 1 month (logical candle chart display)

Observation period: October 1st, 2015 – October 29th, 2020. Historical considerations are not reliable indicators for future developments. Source: Guidants.com

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Turbo Bull on DAX® Index for speculation on an increase in the index

UnderlyingWKNSelling price in EURBase price / knock-out in pts.leverlast valuation day
DAX® indexHR0G3N 7.1110,97516.3910/30/2020
DAX® indexHR1LYP 12.2510,4509.25December 15, 2020
Source: HypoVereinsbank onemarkets; October 29, 2020; 10:48 am

Turbo Bear on DAX® Index for speculation on a price loss of the index

UnderlyingWKNSelling price in EURBase price / knock-out in pts.leverlast valuation day
DAX® indexHR14JZ 41.0815,7252.8411/30/2020
DAX® indexHR15JY 31.0514,7253.7511/30/2020
Source: HypoVereinsbank onemarkets; October 29, 2020; 10:48 am
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The contribution DAX – In the stranglehold of the bears before the ECB decision first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).

Author: Henry Philippson

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