In the morning, the DAX® fluctuated within a comparatively narrow range of less than 100 points in the 13,880 to 13,950 point range without any sustained movement impulses.
The technical starting position is actually unchanged from yesterday, although the lack of downward momentum speaks strongly for the bulls again. If the bulls manage to close the hour above 14,050 points, new all-time highs would be preferred immediately.
Until then, another drift cannot be ruled out. If the wedge formation is left permanently to the south, a larger setback towards 13,600 points, potentially even 13,000 points and lower, would not be a big surprise.
DAX® in points hourly chart; 1 candle = 1 hour (logical candle chart display)
Observation period: December 18, 2020 – January 13, 2021. Historical considerations are not reliable indicators of future developments. Source: Guidants.com
DAX® in points monthly chart; 1 candle = 1 month (logical candle chart display)
Observation period: 01/01/2016 – 01/13/2021. Historical considerations are not reliable indicators of future developments. Source: Guidants.com
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The contribution DAX – unchanged starting position first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).
Author: Henry Philippson
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