In mid-August the Dax played bearish guideline that unites the successive decreasing maximums since the beginning of the year and since then it has not stopped correcting. The strong setback on Friday on Wall Street last Friday leaves the door open to that the correction continues in the German index. But the problem is not so much that as the fact that little by little approaching key supportsrelevant.
And we mean the level of the 12,400 points: the
In mid-August the Dax played bearish guideline that unites the successive decreasing maximums since the beginning of the year and since then it has not stopped correcting. The strong setback on Friday on Wall Street last Friday leaves the door open to that the correction continues in the German index. But the problem is not so much that as the fact that little by little approaching key supportsrelevant.
And we mean the level of 12,400 points: the annual minimums for the months of March and July. There the price drew us a double support (not a double bottom) and since rebounded 12%. It is vital that said support endures because if it does not, there is nothing until 11,500 points, the lows of October 2020. Above, on the resistance side, we have Friday’s highs at 13,375 points, the bearish gap of 13,544 and the bearish guideline now at 13,800 points. Although right now and as the technical situation of the indices has deteriorated in recent days, talking about resistance does not make much sense.
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