Business

DAX – Will the bear market start today?

Today’s price losses in the DAX bring with them some problems that investors would have liked to avoid. At the lowest of the year?

Image: © Focused / stock.adobe.com

  • DAX

    – Abbreviation: DAX – ISIN: DE0008469008


    Price: 14,182.41 points (XETRA) – at the time of publication of the article

  • DAX – WKN: 846900 – ISIN: DE0008469008 – Price: 14.182.41 Pkt (XETRA)

Buyers in the DAX would not only want to forget today’s trading day, but would like to cancel it completely. Just under half an hour before the close of trading, the DAX was down around 2.30% and is currently at its low for the day. Within today’s trading, this will pulverize all Thursday and Wednesday gains. This trend is all the more disappointing if you consider that yesterday and the day before yesterday the prices started straight and without interruption on the hourly chart up to the maximum of almost 14,600 points. It can go so fast. Easy to win, easy to lose, and now the question arises of how things are going to go in the DAX.

The next few days will be important!

There is a lot at stake in the DAX right now. The bulls should do all they can to defend against prices below 13,880 points, as it then increases the risk of further selling in the short term. But this is probably the smallest problem for the bulls. Unfortunately, below 13,880 points would also increase the risk of the DAX slipping further and further into a bear market and a new low for the year should be expected below 12,400 points within such a bear market. A development that investors certainly don’t want to see.

Fortunately, you are not completely without chance. To maintain these possibilities, the bulls should use the price area 14.175-13.880 next week to exert upward pressure again. As part of this, prices should be able to advance into the broad resistance zone at 14.610-15.000 points, where a decision is then pending on the long side.

DAX

Chart analysis for DAX: Will the bear market run its course from today?

Bottom line: Thanks to today’s price losses, the risk in the DAX is temporarily increasing again. At the same time, however, the index is again trading in a short-term support area. Stabilization is possible here, but one should watch Monday’s trading closely. In summary, I am cautiously optimistic.

Three champion repositories, 12 experts, innovative widgets: more technology and content than ever in Guidants PROmax. now Subscribe to!

About the author

hiyabad

Leave a Comment