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DAX: New attack on the 14,000 mark? – UBS column

Review: This week the bears have dominated the day so far. Although a new all-time high of 13907 points was achieved at the beginning of the year, this was only around 5 points higher than the previous one, which was marked at 13904 points at the end of December. Then there was significant profit-taking. Yesterday the bears closed the big gap at 13,587 points. The daily low was 13,566 points. In late trading, the market participants pulled the index back well above the 13,600 point mark. At the closing bell, the DAX was trading at 13,651 points. This corresponds to a price loss of around 75 points compared to the previous day’s close.

Outlook: With this gap close, consolidation could now have come to an end. But for this the buyers have to step up today, otherwise further profit-taking could take place.

The long scenarios: If the index can stay above 13,550 points, another prompt attack on the 14,000-point mark is conceivable. However, this mark then represents a greater hurdle. If the buyers can break this at the first attempt, then larger price increases could follow immediately. The next target price would be 14,500 points.

The short scenarios: The sellers have so far checked the day’s events, but a sell signal has not yet been generated in the daily chart. A sell-signal would only arise below 13-160 points. Then the correction targets would be 13,000 and 12,700 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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