The DAX® climbed to a four-week high of 16,240 points in early trading yesterday, but was unable to maintain the ground it had gained. Ultimately, there was even a slight daily minus, so that the decisive resistance, the all-time high at 16,427 points, remains out of reach for the time being. It is possible that the first, quite important support zone will soon be put to the test. Significant in purely visual terms, because what is meant are the medium-term moving averages of the past 38 and 55 trading days, which nestle together just below the 16,000 mark. Below that, a horizontal intraday zone around 15,810 points would offer slight support. The combination of the three-month low reached last week and the seven-month uptrend approaching this would then be much more massive at 15,420/15,455 points. From a strategic point of view, the even steeper ten-month uptrend, which starts at the 52-week low and is now already in the 15,300 range, plays an even more important role. The 200-day line is now so steep that it is already above 15,000 points.
DAX® (Daily)
Source: stock3.com² / 5-year chart attached
5-year chart DAX®
Source: stock3.com²
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