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Märkte1 MIN READING TIME2018-12-06

DONNER & REUSCHEL - Technical Analysis DAX 30

No St. Nicholas gifts - DAX today under 11,000 (?!)

It goes downhill - Today under 11,000 (!?)

 

At the beginning of the week, hopes for an agreement in the trade dispute between the US and China had catapulted the prices upwards. On Tuesday, however, heavy selling pressure started again. In terms of Brexit, the not entirely unjustified concern returns to a hard exit. The deal between Theresa May and the EU will probably not get approval from the British Parliament on 11 December. More than ever, therefore, the charting technique acts as a compass in this messy maze. The arithmetic downside potential of the SKS is estimated at 10,100 index counters. It now moves closer visually. Especially since the German leading index probably today could "crack" the 11,000 - from top to bottom! Proactive risk management must continue to be stringently maintained. We are still in risk-on mode. The second gap close within a few days already testified the suction effect downwards. Brexit, Italy and the crisis in Ukraine continue to "circle". Now there is still potential for conflict in Kosovo. Not least the discussions about the price of oil. Saudi Arabia wants to bring about a reduction in production, which all causes great nervousness and uncertainty in the global markets. Market-technical indicators are still neutral today. The overall downtrend remains intact. This consists since June 2018 and dissolves only from 12,000 points + X again. Today, the DAX 30 takes the 11,051 in the short-term focus. It also "clearly" switched to 10,100 meters. SKS not only "ante portas" - we are "in the middle of it". The warning signals at 12.125 & 11.800 (see D & R analyzes) are now working.

 

 

Massive selling pressure, nervousness & uncertainty

Superordinate remains fragile chart image and intact downtrend

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