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DAX: The 13,500 as the starting signal for the 15,000 … – Donner & Reuschel column

The German benchmark index will start the weekend stable and at a high level. The short-term upward mode remains – from a purely technical point of view – left. The intraday support at 13,004 points from 11/13/20 remains the most important closest support brand. The Fibonacci line at 13,297 index counters will be tested again today. If the DAX 30 manages to outperform this level in the long term, then 13,500 would be the next technical target. This results on the one hand from the current Fibonacci projection and from the gap formation from 02/21/2020 to 02/24/2020. This would then be the last “corona gap” that would be closed. On July 21st, 2020 this already failed once. At that time, the intraday candle could not completely close the gap. The technical market indicators are still neutral to friendly. The momentum has stabilized. All in all, “the field seems to be in order” for the next step towards the 13,500 point mark. This is what the latest data suggest. In the medium term, there is justified hope of normalization after the corona panic. The continuing very expansionary policy of the leading global central banks and the previous expectations of the designated US government ensure positive and optimistic prospects on the international stock markets. All in all, the DAX 30 is stable and solid in the short term. The short-term sideways movement forms the basis for a prospective increase in the next year. For the German leading index, this means possible listings of up to 15,000 next year.

– Next chart resistance: 13,339, 13,500, 13,689, 13,795
– Next important chart technical supports: 13.004, 12.960, 12.671, 12.370
– Upper Bollinger Band: 13,949, Middle Bollinger Band: 12,771 and Lower Bollinger Band: 11,593
– 100-day line: 12,830 and 200-day line: 12,048 and: 38-day line: 12,740
– Indicators: MACD: neutral | Slow stochastics: neutral | RSI: neutral | Momentum: positive
– Ichimoku Kinko Hyo: positive
– The opening at 9:00 am is expected at around 13,310
– (Trailing) stop loss: 13.004, 12.960, 12.671, 12.370 (depending on individual risk perception)

Primary trend (long-term): not yet back in the lfr. Upward trend
Secondary trend (medium-term): The medium-term trend remains positive
Tertiary trend (today): stable & firm into the weekend
Stable and looking upwards – soon gap close at 13,500 (?)
Still leave the short-term upward mode

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