Technical Analysis DAX 30: Soil formation in progress, but rocky path to the top
The German benchmark index DAX 30 closed yesterday at 12,282 and was able to defend the important mark of 12,232 for the time being. A significant increase of 1.45%. The indication for today's start is expected above 12,300. Thus, the DAX 30 seems to create a basis for bottoming for the time being. However, the way to the finish (200-day line) remains stony. The next resistance in the DAX is the 12,336. These should now be negotiated next. In addition, the EUR / USD is again causing disruptions with its rise above the 1.23 level. So the way to the top is not easy. Especially since today again hardly positive impulses are to be expected. Another stabilization around 12,300 would be a good sign. Since the volatility (currently 28) would fall in the course and would provide for a certain normality. The technical setup is clearly defined. As long as the 12,232 holds we are in the backlash and the goal is the area around the 200-day line. Should the 12,232 not be defended, new lows in the DAX 30 are not excluded. The indicators remain oversold.
- Next chart technical resistance: 12,336, 12,489, 12,722, 12,951, 13,063, 13,152, 13,063
- Upper Bollinger Band: 13,880
- Next important technical support: 12,232, 12,067, 11,930
- Meter Bollinger Band: 13,048 and Lower Bollinger Band: 12,215
- 90-day line: 13,089 and 200-day line: 12,751 as well as: 21-day line: 13,057
- Indicators: MACD: oversold | RSI: oversold I Slow Stochastics: oversold I Momentum: falls
- In total: trend-setting indicators, short-term potential for recovery
- Volatility (VDAX-NEW): 26.57
- The opening today at 09:00 is expected close to 12,300.
- (Trailing) Stop Loss: 12,232, 12,067, 11,930 (depending on individual risk affinity)
Source: Bloomberg
Source: Bloomberg
