DAX analysis: Does the DAX follow the seasonal pattern?Current analysis of the DAX index - viewed in the H4 chart
The DAX shows an intact medium and long-term upward trend. The last time it reached a record high of 15,803 points was on June 14th. The setback that has been ongoing since then led to the successful test of the rising 50-day line on Monday and the formation of an intraday correction low at 15,309 points. Based on this, the bulls reported back impressively and were able to reach a recovery high of 15,653 points by Tuesday. Overall, there are still potential course targets at 15,900 / 16,000 and possibly around 16,200 points to be processed. In view of the typical seasonal pattern, it would be conceivable that these levels could still be reached before the weak stock market phase starts in mid / end of July and a clearer correction phase lasting several months moves onto the agenda. A corresponding confirmation would be a sustained increase of over 15,803 points at the end of the day.
With a view to the short-term chart image, however, in the event of a significant slide below the support at currently 15,498 points, we favor an immediate continuation of the corrective phase with possible goals at 15,309 points, 15,193 points and 14,816-14,961 points. Finally, below the last-mentioned zone, the overall chart image would also become significantly clouded.
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