DAX: Focus on strong hurdles – UBS column

Review: After the massive upward movement, which literally exploded the DAX from 11,450 to 13,297 points within seven days, a sideways consolidation set in. This was dissolved upwards. However, there was no sharp increase. After reaching the annual high at 13,460 points, a slight correction started in the last few days, which pushed the index back below the previous resistance at 13,313 points. The index went out of trading on Friday just below the mark.

Outlook: After the steep increase in the previous weeks, an extensive correction is not surprising. However, buyers should be careful that this countermovement does not lead back too far.

The long scenarios: If the DAX can rise again above 13,313 points, the next attack on the high is likely to start at 13,460 points. A sharp countermovement could be expected there again. If the mark is overcome, on the other hand, the rally could ultimately lead directly to the all-time high of 13,795 points. Even a medium-term increase to 13,950 points would be possible in this case.

The short scenarios: Should the correction continue, however, a setback to the small support at 13,034 points would be expected. At this point the cops should intervene again. On the other hand, sales below the brand would result in a wave of sales that could well lead to below the 12,866 point mark. However, a significant recovery should then take place in the area of ​​12,633 points.

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