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DAX Index


Trevor Neal

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Hi Trevor, thank you for coming here and trusting our assessment.

The DAX Index gained 1.34% yesterday, in addition to gains of 1.44% on Thursday. These gains were somehow surprising given the results of surveys and studies in Germany showing a significant drop in the consumption and business activity expected for this quarter and year in general.

Technically, the price action failed to clear the 11,200 mark last week, almost touching the major horizontal resistance near the 11,300 handle. Hence, I suspect the buyers will be targeting this resistance again given the strong weekly close above 10,900. 

Looking higher, a break of 11,300 resistance level would pave the road for a trip to 12,000, home to the 100-DMA and 200-DMA.


 

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