Dax technical analysis 08.10.2017
Review:
The last analysis took place on 11.04.2017. We waited for the start of a major correction wave. It was noted that the air would become thinner for the bulls. But the defined trigger marks for the short signal were neutralized since 12500 was exceeded. This also meant that our correction scenario was no longer relevant. The Dax has started the big correction wave in the 12900 range. From there the index lost nearly 1000 points. As expected this correction was only temporary. On 23.08.2017 the low was set at 11964 and the upward trend towards all-time high was continued.
Forecast:
The upward trend remains fully intact as long as 12710 is not undercut. A breach of the mark would make an extension of the correction to the 12500 range probable. At 12310 the index has to turn upwards again if the bulls want to maintain their dynamic upward momentum. A break of the mark 12310 would probably lead to a test of 11840.
As long as 12310 is not undershot, once the correction has been completed, the upward trend is likely to continue towards 13300. The upwave since the low of 23.08.2017 at 12964 has a maximal potential of 14021.
Conclusion:
Corrections can lead to 12310 without ending the dynamic upward trend. Short-term oriented traders can look for signals for favorable short entries. If 13060 is not exceeded, a break of 12910 would be a first signal of weakness. As mentioned above, next the marks 12710,12500,12310 and 11840 must be observed. As said, the upward trend must be expected to continue at the latest at 12310. Its hard to believe but there is still upward potential. 14021 could be reached by this wave at most.
Find more Dax predictions at:
perfect-trader.com/chartanalysen/dax-chartanalysen
The last analysis took place on 11.04.2017. We waited for the start of a major correction wave. It was noted that the air would become thinner for the bulls. But the defined trigger marks for the short signal were neutralized since 12500 was exceeded. This also meant that our correction scenario was no longer relevant. The Dax has started the big correction wave in the 12900 range. From there the index lost nearly 1000 points. As expected this correction was only temporary. On 23.08.2017 the low was set at 11964 and the upward trend towards all-time high was continued.
Forecast:
The upward trend remains fully intact as long as 12710 is not undercut. A breach of the mark would make an extension of the correction to the 12500 range probable. At 12310 the index has to turn upwards again if the bulls want to maintain their dynamic upward momentum. A break of the mark 12310 would probably lead to a test of 11840.
As long as 12310 is not undershot, once the correction has been completed, the upward trend is likely to continue towards 13300. The upwave since the low of 23.08.2017 at 12964 has a maximal potential of 14021.
Conclusion:
Corrections can lead to 12310 without ending the dynamic upward trend. Short-term oriented traders can look for signals for favorable short entries. If 13060 is not exceeded, a break of 12910 would be a first signal of weakness. As mentioned above, next the marks 12710,12500,12310 and 11840 must be observed. As said, the upward trend must be expected to continue at the latest at 12310. Its hard to believe but there is still upward potential. 14021 could be reached by this wave at most.
Find more Dax predictions at:
perfect-trader.com/chartanalysen/dax-chartanalysen
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