The DAX40 continues to exhibit bullish sentiment, aligning with the prevailing short term uptrend. Recent price action suggests that the index experienced an oversold rally, which subsequently spiked above near a key resistance zone.
A corrective pullback to 22,826, followed by renewed buying pressure, would likely confirm a bullish reversal, with upside targets at:
23,730 – Near-term resistance
24,000 – Medium-term resistance
24,355 – Long-term resistance level
However, if price breaks and closes firmly below 22,826 on a daily basis, the bullish scenario would be invalidated. In that case, the DAX40 could extend corrective pullback toward:
22,500 – Immediate support
22,250 – Major downside target
Conclusion
The bias remains bullish above 22,826, with rallies from that level offering potential long opportunities. A daily close below 22,826, however, would shift sentiment and open the door for bearish continuation toward lower support levels.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
A corrective pullback to 22,826, followed by renewed buying pressure, would likely confirm a bullish reversal, with upside targets at:
23,730 – Near-term resistance
24,000 – Medium-term resistance
24,355 – Long-term resistance level
However, if price breaks and closes firmly below 22,826 on a daily basis, the bullish scenario would be invalidated. In that case, the DAX40 could extend corrective pullback toward:
22,500 – Immediate support
22,250 – Major downside target
Conclusion
The bias remains bullish above 22,826, with rallies from that level offering potential long opportunities. A daily close below 22,826, however, would shift sentiment and open the door for bearish continuation toward lower support levels.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.