After the run of the last few days, the DAX® started the new week cautiously. But the slight profit-taking from yesterday does not change the bottom line in the steep template provided by the latest “morning star” in the weekly range. Nevertheless, we would like to first deal with the risk side. The most recent upward gap (15,028 to 14,950 points) marks important support here. In conjunction with the previous upward price gap, not only an “island reversal” is created, but also a small bottom formation. In the event of a rebreak of the brands mentioned, two constructive arguments would be lost. That’s why it’s important to prevent this break. On the upper side, however, the horizontal barriers at 15,500/15,600 points mark out the next approach zone. There is another striking resistance here with the 200-day line (currently at 15,642 points), which further underlines the importance of the previously mentioned zone. In other words: In this context, the German standard values face a real litmus test.
DAX® (Daily)
Source: Refinitiv, tradesignal² / 5-year chart attached
5-year chart DAX®
Source: Refinitiv, tradesignal²
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