DAX: New all-time high – UBS column

Review: The DAX has now exceeded the 14,000 point mark for the first time in history and has reached a new all-time high at 14,007 points. The day before, the DAX went a little lower again at 13,968 points. Before the trading session, however, the index was again significantly higher in the area of ​​14,060 points early on Friday morning. After the mark of 14,000 points has now fallen, the DAX could continue to move towards the upper limit of the rising trend channel in the daily chart at around 14,300 points. The DAX is trading above its 50 and 10 EMA, which is a bullish signal. However, the index in the monthly chart has not yet overcome the rising upper resistance line.

Outlook: The upward trend is clearly intact and as long as the DAX is quoted above the 10-EMA in the daily chart, prices can be expected to continue rising directly.

The long scenarios: The DAX can sustainably overcome the 14,000 point mark and thus also conquer the important rising upper trend line in the monthly chart. If this succeeds, the bulls could continue to set course for the upper trend channel limit at 14,300 points. After the long run-up, however, an outbreak of the rising trend channel is not to be expected. Downward corrections should taper around or slightly below the 10 EMA to maintain near-term strength.

The short scenarios: The DAX does not achieve a sustainable rise above the 14,000 point mark and continues to drop again. If the index then falls permanently below the 10 EMA, a return to the support zone at 13,460 points is to be expected.

Live stream on December 14, 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! –



Related Articles

Back to top button