After the low of movement at 15048, the DAX index stabilized and was able to recover visibly after the formation of a reversal formation (double-buttom). The DAX is now again in the range that previously lasted several days with clear limits on the top and bottom.
Outlook:
The focus is currently on the support area 15488-15456. As long as the DAX can stay above this zone, LONGS are the first choice with price targets at 15647-15708. If this level has been processed, corresponding selling pressure can be expected, since the intersection of the upper limit level and the high connection run in this area. Only a sustained break through 15708 would enable further potential with a price target up to (initially) 15802 and above. On the other hand, should there be a significant break in the support zone at 15488-15456, this would activate a short setup. A reaction impulse up to the target range of 15344-15309 would then be possible. If the DAX can stabilize in this zone (double floor / neckline), the LONGS should again be favored. However, if this zone cannot be defended either (demand dominance does not occur), increased dynamics up to the previous area at 15110-15048 can be expected.
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Note:
Despite careful analysis, Global Investa does not accept any liability for the content, topicality, correctness or completeness of the information provided. The information provided does not constitute investment advice, purchase recommendations or investment brokerage.
Outlook:
The focus is currently on the support area 15488-15456. As long as the DAX can stay above this zone, LONGS are the first choice with price targets at 15647-15708. If this level has been processed, corresponding selling pressure can be expected, since the intersection of the upper limit level and the high connection run in this area. Only a sustained break through 15708 would enable further potential with a price target up to (initially) 15802 and above. On the other hand, should there be a significant break in the support zone at 15488-15456, this would activate a short setup. A reaction impulse up to the target range of 15344-15309 would then be possible. If the DAX can stabilize in this zone (double floor / neckline), the LONGS should again be favored. However, if this zone cannot be defended either (demand dominance does not occur), increased dynamics up to the previous area at 15110-15048 can be expected.
If you liked the analysis, please give me a like and follow me to stay up to date.
Note:
Despite careful analysis, Global Investa does not accept any liability for the content, topicality, correctness or completeness of the information provided. The information provided does not constitute investment advice, purchase recommendations or investment brokerage.