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Märkte1 MIN READING TIME2019-01-04

DONNER & REUSCHEL - Technical Analysis DAX 30

"Drop in the bucket"

"Drop in the bucket"

Yesterday, recession fears were compounded by a weak US ISM index. This dropped significantly to 54.1 in December. Falling numbers further compounded global economic concerns. The German leading index will not start unimpressed today in the last trading day of the week. But above all, the "old issues" remain, which cause uncertainty and nervousness. Above all, the trade dispute between the US and China. In Europe, Brexit will remain the dominant theme until the end of March. The DAX 30 continues to draw its shoulder-head-shoulder formation (SKS). This still has potential up to 10,100. On 27.12.2018, the daily low was 10,279 meters. The SKS is only from courses above the 11,800 endorsed. Sustainable breather, it applies only from 12,125 upwards. Here, the 200-day line tends. In addition, the Lower Bollinger Band drifts (10.233) further down. The short-term trading range is thus: 10,822 to 10,233. The 10.233 are the more likely port of call. The downward pressure is too strong. The market technology continues to blow into the same horn. Here too, no noticeable relaxation is to be expected. Everything fits together in one picture. The first trading week of 2019 presents itself as the old year ended. Extremely volatile and falling. The current fundamentals could at least provide for a small stabilization. Both US and German labor market data and European consumer prices are being nicely forecasted. However, this is probably just the proverbial "drop in the bucket" ...



Nervousness & uncertainty will continue in 2019

Superordinate remains fragile chart image and intact downtrend

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