The leading German index will start Wednesday trading today with discounts. The short-term upward mode remains unaffected. The short-term slow stochastics have further “cooled down”. The 14-day momentum remains positive. The trend follower MACD is evidence of medium-term trend stability. Meanwhile, five conspicuous â € œDoji candlesâ € in a row show, however, the decline in dynamism. Because of this there will be profit-taking and price discounts today. The medium-term trend remains positive, however. After the 38-day line, the 100-day line was crossed by means of the opening gap. This gap runs from 12,671 to 12,596 index counters. Strategic safeguards are now available here. The Upper Bollinger Band even creates air up to 13,650 points in the medium term. In spite of everything, it is recommended to strictly continue the stop-loss / take-profit strategy. If you also look at the Fibonacci retracements, you can see that the 61.8% retracement (12,592) is almost exactly at the lower gap level (12,596). Thus the signal is strengthened to draw strategic profit protection in this area.
The great euphoria on the floor is over for now. The Ichimoku indicator still shows that the mood is positive. However, with a noticeably thin cloud expression. This runs on the lower trend line of the most recent upward mode. The trading volume is on average.
– Next chart resistances: 13.238, 13.297, 13.339, 13.500, 13.689, 13.795
– Next important technical chart support: 13.018, 12.960, 12.671, 12.370, 12.345
– Upper Bollinger Band: 13,650, Middle Bollinger Band: 12,472 and Lower Bollinger Band: 11,347
– 100-day line: 12,783 and 200-day line: 12,063 and: 38-day line: 12,652
– Indicators: MACD: neutral | Slow stochastics: neutral | RSI: neutral | Momentum: positive
– Ichimoku Kinko Hyo: positive
– The 9:00 AM opening is expected at around 13,100
– (Trailing) stop loss: 13,018, 12,960, 12,671, 12,370, 12,345 (depending on individual risk perception)
Primary trend (long-term): not yet back in the lfr. Upward trend
Secondary trend (medium term): Medium-term trend still positive
Tertiary trend (today): test of the 13,000
DAX 30 weaker today
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