DAX – daily outlook: +200 points, DAX breakout over small congestion zone

Today there is a DAX breakout above the small congestion zone 18039. This can be said because the previous stock market is clocking at around 18200. Here are the details of the day from the perspective of the charts.

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• VDAX NEW – WKN: A0DMX9 – ISIN: DE000A0DMX99 – Price: 12.11 points (VIX)
• DAX Index Future – WKN: 846959 – ISIN: DE0008469594 – Price: €18,467.00 (EUREX)
• DAX – WKN: 846900 – ISIN: DE0008469008 – Price: 18,015.13 points (XETRA)

What a start to the day. +200 points are in the pipeline. Today there is a DAX breakout over the small congestion zone 18039.

This can be said because the pre-market is clocking at around 18200. Here are the details of the day from the perspective of the charts.

Current status:

• XETRA DAX closing price: 18015
• DAX pre-market: ~18200
• VDAX NEW: 12.11

Review:

• The DAX was supposed to rise to 18040 yesterday and then stagnate again, waiting for the US_FED. That was true. The DAX rose from 17988 to 18046 and ended at 18015.

Resistances of the XETRA DAX

➡️(18143/18154) ➡️18472

🔵 Main variant

• The DAX is and remains in an upward trend. The threshold for maintaining the trend is moving up today from 17915 to 17983.
• This morning there is an unconfirmed DAX breakout above the small congestion zone 18039. The DAX is valued at 18200. The breakout above 18039 would be confirmed at the end of the day above 18039.
  
  The DAX is already starting today above Pivot R3, which can be found today at 18143. So it could be that the pre-market will be reduced to 18150 by 9 a.m.
• On the upper side, the DAX has no resistance because it is historically new territory. Possibly the upper Bollinger Band gives an indication of reasonable, fair daily maximum prices at 18150.
• Otherwise I can only name the weekly pivot R3 at 18472 as resistance until Friday evening.

Supports the XETRA DAX

➡️ 18040 ➡️ 17983 ➡️ 17900/17876

• After today’s start of trading, pullbacks are running towards around 18050/18040 in order to then have another chance to form further weekly highs.

🔴 Bearish:

• A first small trend change would now take place below 17983. That would clear the way to 17900/17875.

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Good luck, Rocco 🙂

charts

Arrow logic:

🔵 BLUE ROUTE is favored; has a high probability of approx. 60%

🟢 GREEN = best case history

🔴 RED = worst case scenario