DAX 30 GERMANY INDEX TECHNICAL ANALYSIS
It has been a long time since last technical analysis for the DAX, I remember the last post Why DAX Should Be 1 of your investments in late 2016 – it was really a good trade
Is this time we are going to get the same move or this is another story…?
12,500 again or straight to 10,200 and even to 9600
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| DAX 30 chart analysis |
since the last record in late January this year the DAX 30 GERMANY INDEX set a record for almost 13600+- points and from that point time area it not managed to hold this level and went down almost 2000 points to 11680 in late February
since then we can see that DAX tries to recover and gets to 13,200 points but again could not make it and went back down below 11600 points, for now, the trend in DAX became bearish that’s mean targets it could be even below 10,000 points.
A break is to be expected if the DAX could not hold above 10,200 it’s likely that price will dig bellow 10000 points. The current bear market has already taken 1000 off the index; the next significant stabilization zone is 10,800 points +_
As long as DAX could not make new high above and go above 12,300-12.500 points the trend is bearish
I have a scenario for the future move on the DAX: My forecast and index assessment Continuation of decrease to an area 10,800 points + , From there the index will give corrective movement back up, based on a technical correction to 12,000 points + area
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| DAX 30 CHART |
This review does not include any document and/or file attached to it as an advice or recommendation to buy/sell securities and/or other advice
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