DAX: Sideways into the new week – consolidation range intact – Donner & Reuschel column

The current consolidation range (13,500 – 13,004) remains intact at the beginning of the week. The intraday support at 13,004 points from November 13th, 2020 represents the closest strategic support brand. This is again not at risk today. The technical market indicators are unanimously neutral. However, the momentum only oscillates just above the zero line today. The 13,500 still remain a “tough nut to crack”. The sideways movement (13,500 to 13,004) that has been intact since 11/10/2020 forms the basis for a prospective increase in the next year. For the German leading index, this means possible quotations of up to 15,000 index points in 2021. Today there will be another sideways movement. Risk-averse investors should leave the hedges at 13.004.

From a fundamental point of view, only the production of the manufacturing industry in Germany is expected today. The US stock exchanges are already in the middle of the year-end rally. Both the Dow Jones Industrial, the Nasdaq 100 and the S&P 500 previously had to cope with similar patterns as the DAX 30. After these were over-negotiated, it seemed like a liberation. If the current DAX sideways trend is projected upwards, the short to medium-term price target is 13,996 or plus 3.67%. The volume and the volume price trend are constant. This means that the leading German index remains below 13,500 index points today. As long as the 13.004 is not negotiated, there is no threat to the German benchmark index. The ECB could even ensure a year-end rally on the “old continent” in the new week …

– Next chart resistance: 13,500, 13,689, 13,795
– Next important technical technical supports: 13.236, 13.192, 13.004, 12.960
– Upper Bollinger Band: 13,545, Middle Bollinger Band: 13,168 and Lower Bollinger Band: 12,790
– 100-day line: 12,864 and 200-day line: 12,040 and: 38-day line: 12,791
– Indicators: MACD: neutral | Slow stochastics: still neutral | RSI: neutral | Momentum: positive
– Ichimoku Kinko Hyo: positive
– The opening at 9:00 am is expected at around 13,250
– (Trailing) stop loss: 13.236, 13.192, 13.004, 12.960 (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): Sideways

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