With yesterday’s close at 13531 points, the Dax index closed with gains compared to Friday. Today, the index continued to move slightly upwards so far with 0.25%. The price has been in a medium-term uptrend since the end of September and marked a new high at around 13613 points yesterday. What movements could we expect this week?
The chart situation in the daily chart did not change much last week. The current upward trend continued. In the area around 13484 points, a relevant horizontal support has been established in the very short term. The next important resistance is found in the area of 13926 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 to the last support at 13023 points. Otherwise, the price could rise to the aforementioned resistance. If this is broken, we could see a further rise to above 14000 points and thus also above the 200-day moving average. Otherwise, the price could continue to hold at 13600 points.