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DONNER & REUSCHELMärkte1 MIN READING TIME2019-01-08

DONNER & REUSCHEL - Technical Analysis DAX 30

The three "wise men": Triple-bottom, Fibo-Line & Middle Bollinger-Band

The three "wise men": Triple-bottom, Fibo-Line & Middle Bollinger-Band

Hopes for an end to the customs dispute between the US and China recently boosted the German leading index. Yesterday came the realization that they could, however, be quite long and tough. For this week, a general resumption of customs talks is expected. Solutions and Final Decisions: Big Question Mark * The DAX 30 had almost finished its SKS formation on 27.12.2018. The low for the day was 10,279 meters. Potential was up to 10,100. Measured by the descent of recent weeks, this was almost a "point landing". Now a tender plantlet seems to form a possible stabilization. The triple and successful test of the 10,400th mark could be an indication of this. The DAX 30 is currently testing an important Fibonacci line. The Kurschancen up hold nevertheless within the framework. The next resistance already exists at almost 11,000. The downwards trend therefore remains higher. At 12,110 runs the 200-day line. The Middle Bollinger Band (10,762) will also become an important landmark. Should the hopes for a successful resumption of the customs talks be disappointed, a renewed sell-off threatens. However, if the talks come to fruition, it should be followed by a tough negotiating marathon. Thus, the technical brands continue to be a good guide. From a market perspective, the most important indicators are neutral at the beginning of the new week. A negotiation of the 10.989 is probably not expected despite the currently good momentum today. Focus is on the Fibonacci line at 10,788 points (!).

 

 

Hope for stabilization above 10,387 points (triple bottom)

Superordinate remains fragile chart image and intact downtrend

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