Review
The DAX had at the end of last week after a prolonged sell-off,
which led to price losses of over 15% since the beginning of June,
surprisingly broke this medium-term downward trend and has since risen again by almost 7%.
The long-term downward trend line is currently at 14,300 points.
Current
Today, the index opened with +0.3% and currently stands at about 13,350 points.
For the moment, it remains to be seen how the price will behave on the moving average of the last 50 days in the daily chart.
The next chart resistance is then in the range 13,600 to 13,700.
However, if the price continues to rise, a move to the 14,000 mark cannot be ruled out.
Otherwise, in the event of a decline, a first support lies at around 12,820 points (yesterday’s daily low).
Below that, the price could fall back towards 12,450. This is the mark that has held up so far and from which the short-term trend reversal had started.
