DAX® – Under pressure: Charttechnical broadside | news

Under pressure: Technical broadside chart

The last three trading days have not been favorable for the DAX®. After falling below the 50-day line (now at 13,226 points) and closing the price gap from the beginning of the week, the share barometer also had to reveal the old breakout mark of 13,050 points yesterday. The German standard values ​​were thus canceled they were already pronounced, short term down. On a weekly basis, there is (so far) a so-called “shooting star” – that is, a candle with a different wick – on the books. On balance, the DAX® is therefore still in a difficult technical starting position. This assessment is supported by looking across the pond. While the S&P 500® has broken its recovery trend since June, the Nasdaq-100® now has the 12,000 support up for grabs (see analysis below). In Germany, the most recent low trend at 12,617/12,604 points defines the next retirement zone. On the other hand, in order to improve the position of the beat chart, DAX® should at least regain the above-mentioned mark of 13,050 points.

DAX® (daily)

DAX® charts

Source: Refinitiv, tradesignal² / chart 5 years attached

5-year DAX® chart

DAX® charts

Source: Refinitiv, tradedesignal²

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