After yesterday’s close at 13258 points, the Dax index has closed almost unchanged from the opening. Today, the index moved up again so far with 1.02%. The price has recently successfully broken the previous downward trend and today marked a new high at 13419 points. What might happen in the week ahead?
The chart situation in the daily chart did not change much last week. The current upward trend continued. In the area around 13050 points, a relevant horizontal support has been established in the short term. The next important resistance is found in the area of 13560 points. If the price continues to stay above the support and respects it, this can be interpreted as a bullish signal and the price could continue to rise over the next few days. However, if this is breached, we could see a downward movement below 13000. Otherwise, the price could rise to the aforementioned resistance. If this is broken, we could see a further rise to 13650 points, where the 200-day moving average is currently located. Otherwise, the price could continue to hold at 13400 points.