The DAX® has hovered around the 16,000 point mark for the last five trading days. But it is not only this round price mark that seems to limit the share barometer at the moment, two price gaps also provide two important guidelines in the short term. On the upside, the downward gap from May 24 at 16,144/16,115 points is still open, while to the south the recent upward price gap (15,863/15,910 points) acts as an important stop. In the short term, two price gaps serve as a clock. However, two other zones are of strategic importance: The retreat area at 15,700/15,600 points offers strategic protection. At this level, the DAX® has repeatedly marked important low points in recent weeks – in the last week on this basis also an ideal-typical “hammer candle”. On the other hand, the DAX® has hit its head three times at 16,300 points. Specifically, the old all-time high from November 2021 at 16,290 points together with the high from January 2022 (16,285 points) and the new record level at 16,332 points forms a triple lid. A successful breakout therefore has far-reaching consequences.
DAX® (Weekly)
Source: Refinitiv, tradesignal² / 5-year chart attached
5-year chart DAX®
Source: Refinitiv, tradesignal²
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