DAX 30 initially sideways – possible movement by the ECB – Donner & Reuschel column

The current consolidation range (13,500 – 13,004) remains intact for the time being on Thursday. However, the ECB press conference in the afternoon could bring some movement. The intraday support at 13,004 points from November 13th, 2020 represents the closest strategic support brand. The technical market indicators are neutral. The momentum is oscillating just above the zero line. The 13,500 remain a “tough nut” in the short term. The sideways movement (13,500 to 13,004) that has been intact since November 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. Risk-averse investors should leave the hedges from 13,004.

On the monetary policy side, the ECB press conference is eagerly awaited 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 a plus of 3.67%. The volume and the volume price trend continue to be constant. As long as the 13.004 is not negotiated, there is no threat to the German benchmark index. With a further expansionary and loose monetary policy, the ECB could even ensure a year-end rally on the “old continent” as well. A sustained over-trading of the 13,500 index mark is assumed.

– Next chart resistance: 13,500, 13,689, 13,795
– Next important chart 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: 12,049 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 13,300
– (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
Consolidation range (13,500 – 13,004) intact
“Waiting for the ECB”

Livestream on December 14th, 2020 from 6 p.m .:

With Hans-Werner Sinn, former President of the Ifo Institute.

With Hans-Werner Sinn, former President of the Ifo Institute: Corona and the miraculous increase in money in Europe
– Here is the stream! –


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