DAX: Back at the all-time high – UBS column

Review: Last week, the buyers’ side of the DAX not only managed to stop a brief correction phase before the support at 12,866 points, but also broke through the previous highs of the recovery after the corona crash at 13,460 points . This buy signal was followed by a straight rise to the previous all-time high of 13,795 points, which was already reached last Friday.

Outlook: With the outbreak of last week, the bulls not only presented themselves with an enormous end-of-year rally at Christmas, but now also the chance of rising above the previous record high.

The long scenarios: As long as the DAX is quoted above the support at 13,600 points, a rise above the record high of 13,795 points can be expected at any time. In this case, the index could increase to 13,950 and 14,000 points. A significant correction could be expected at this level. However, if the 14,000 point mark is overcome in the further course, the rally could lead directly to 14,250 points.

The short scenarios: Below 13,600 points, on the other hand, there would be a response to the strong support at 13,460 points on the agenda. From there, the value should rise again to the record high. If, however, the mark is not reached, a correction of up to 13,313 points would be expected. Below that, there would be a clear sell signal with an initial target of 13,009 points.

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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