DAX – Daily outlook: This is how the new DAX rally starts, 2 options…

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analysis

8:14 a.m., March 19, 2024

This is how the new DAX rally starts towards further all-time highs. There are 2 possibilities. Here is today’s DAX forecast…

DAX - Daily outlook: This is how the new DAX rally starts, 2 options...Image: © stock3 AG
  • VDAX NEW – WKN: A0DMX9 – ISIN: DE000A0DMX99 – Price: 12.75 points (VIX)
  • DAX Index Future – WKN: 846959 – ISIN: DE0008469594 – Price: €18,178.00 (EUREX)
  • DAX – WKN: 846900 – ISIN: DE0008469008 – Price: 17,932.68 points (XETRA)

New 3-month derivatives cycle. It has been necessary to check for a few days since Monday whether this will change the overall structure of the DAX’s current flagpole mode or not.

Otherwise: Rounds of thousands, here DAX 18,000, cause problems in the first contact in 90% of cases. In other words, only 1 out of 10 times does the DAX directly overcome 18000 and never turn back down again. Today’s topic: This is how the new DAX rally starts. There are 2 possibilities.

Current status:

  • XETRA DAX closing price: 17933
  • DAX pre-market: 17915
  • VDAX NEW: 12.75

Resistances of the XETRA DAX

➡️18020/18040 ➡️ 18110

Supports the XETRA DAX

➡️ 17900/17880 ➡️ 17770/17750 ➡️ 17620

🔵 Main variant

  • The DAX no longer looks fresh since it tested around 18,000. The daily candle sequence proves this. There are also RSI divergences, as reported here yesterday.

    I always pay the greatest attention to the position of the DAX in relation to the trend channel. In this regard, the DAX is currently maxed out at 17970.
  • This is how the new DAX rally starts. There are 2 possibilities.

    -Possibility 1: The DAX immediately turns upwards at 17900/17880 and rises to 18040. In this case, it will hardly be higher than 18040 today.

    -Possibility 2: The DAX falls below 17750. Then the new DAX rally to 18040 plus x would only start at 17620.

🟢 Bullish:

  • After closing the hour above 18040, the DAX could rise to 18110 (daily pivot R3) today.

🔴 Bearish:

  • Chart cloudiness only occurs below 17879 and below 17750.
  • Below 17747, the DAX would fall to 17620, and then counterattack significantly upwards for several 100 points, as described in option 2. Stoploss would be 17050/17000-x.

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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

DAX daily outlook-How-the-new-DAX-Rally-2-possibilities-chart-analysis-Rocco-Gräfe-stock3.com-1
DAX daily outlook-How-the-new-DAX-Rally-2-possibilities-chart-analysis-Rocco-Gräfe-stock3.com-2

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