DAX: Recovery rally – Columns – PERSONAL-FINANCIAL.COM

Past performance, forecasts and simulations are not an indicator of future performance.

The DAX was able to continue its recovery movement in the first hour of trading yesterday. It then moved below the daily high at 13,442 points into a narrow trading range above the broken 200-hour line.

As long as the current support zone at 13,335 / 13,343 points is not undershot (hourly closing price basis), an extension of the recovery movement from the low at 13,060 points is to be favored. Potential targets are 13,476 / 13,502 points and 13,624 points. Only with a sustainable overcoming of the last-mentioned mark would there be a clearer brightening of the short-term chart image with the next target at 13,774 / 13,795 points. Short-term bearish signals would now arise below 13,147 points and below the support zone at 13,009 / 13,060 points. Below that, the 38.2% fibonacci retracement and the 50-day line at currently 12,887 / 12,935 points would be activated as the next target.

Next support:

  • 13.335 / 13.343
  • 13,277
  • 13,147

Next resistances:

  • 13,442
  • 13.476 / 13.502
  • 13,624

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