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DAX: New all-time high – UBS column

Review: The day before, the DAX was able to start trading directly with a gap-up and open at 13,779 points. Previously, the DAX went out of trading on Wednesday at 13,587 points. In the further course of the year, the DAX also managed to rise above the all-time high of 13,795 points. The daily high was reached 13,818 points. At the closing bell, the DAX then traded a little lower below the 13,800 point mark at 13,790 points. After the strong price increase, the DAX is moving in thin air. The opening gap from the previous day at 13,601 points must now be observed, which could serve as a starting point in the event of a return.

Outlook: The upward trend is clearly intact; after the new all-time high from the previous day, the DAX could move towards the round mark of 14,000 points.

The long scenarios: The DAX can maintain the strength of the previous day and conquer the 13,800 point mark again. As a result, another run-up to 13,850 points would then be expected. Above that, the bull run with up to 14,000 points should begin. In the long term, the bulls could even target the upper area of ​​the rising trend channel in the daily chart at 14,250 / 14,300 points.

The short scenarios: The DAX cannot hold the previous day’s profits. The bears come back to the field and push the DAX down to the gap at 13,600 points. If it goes further down, the second open gap on the bottom could start at 13,441 points. This is also where the old resistance zone is located, which has now become a massive support zone. If the DAX slips down here as well, a further decline to the lower limit of the rising trend channel can be expected.

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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
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