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DAX - Touch of Downtrend Channel Bottom indicates possible Reversal

Saturday, 2018-12-08








DAX - Possible formation of Descending Triangle

Tuesday, 2018-11-27








DAX in Downtrend since All Time High

Saturday, 2018-11-10

The daily DAX-chart still displays 3 downward trends. In February the first and major one began at the All Time High. From mid-June on the second and intermediate Downtrend set in. October then brought the current minor Downtrend which marked 2 new yearly Lows in a row, the first one at 11400 Points and another one around 11050 Points just shortly after.







DAX in Downtrend

Saturday, 2018-10-20

The daily DAX-chart currently displays 3 distinct progressive downward trends. In February the first and major one began at the All Time High. From mid-June on the second and intermediate Downtrend set in. October then brought the current minor Downtrend which marked a new yearly Low at 11400 Points.







DAX could consolidate within current Trading Range

Monday, 2018-09-17

The DAX may begin to consolidate within its current Trading Range between a major Support at 11 865 Points (red horizontal Line on the chart) and a medium Resistance around 12 160 Points (green horizontal Line on the chart). The daily chart shows that Trading Range (gray colored horizontal zone on the chart) as well as the current minor Breakout Line (luminous green diagonal Line on the chart) which currently runs along 12 400 Points.







12 100 seems a possible short-target

Sunday, 2018-09-02

After failing to even reach the green Breakout Line the DAX tested the yellow lower line of the Symmetric Triangle for the 2nd time this August and is currently breaching it again. Should that yellow lower line turn into Resistance now, than a further move downward to 12 100 points should be anticipated.







DAX: Current Breakout Line runs along 12 670

Wednesday, 2018-08-29

The 4-Hour-Chart shows a light green Breakout Line currently running along 12 670. Should that Breakout Line be breached to the upside, then the former Symmetric Triangle (yellow lines on the chart) could still prove valid although its lower yellow line was breached 2 weeks ago, followed by a reentry into the Symmetric Triangle at the begin of last week.







DAX: Small Symmetric Triangle about to Breakout

Thursday, 2018-08-23

A small Symmetric Triangle has formed just above the red former lower line of a larger Symmetric Triangle which we disussed here last time. Details concerning that small Symmetric Triangle are disussed together with a 1-Min-Chart further down just below the hourly Chart.


Small Symmetric Triangle with False Breakout

On the 1-Min-Chart we can see a Symmetric Triangle which formed during Wednesday's regular trading session. After the regular session had closed at 17:30, a False Breakout occurred right away in the Future Session which ended at 22:00.







DAX: Current Downward Move could be continued

Thursday, 2018-08-16

The Support at 12 300 Points which still lasted on Tuesday was tested again and breached Wednesday. Till that point the DAX had already lost 130 Points compared to the High of the day. After breaching 12 300 price dropped rapidly another 175 points, accumulating to a total drop of 300 points. Given such a heavy drop it would be reasonable to consider that the DAX will at least test the next major Support at 12 000 points if not as well the next lower Support at 11 800 points before the current Downward Move will come to a hold for now.







DAX: Consolidation within Symmetric Triangle almost complete

Sunday, 2018-08-12

The Downward Move which started 2 weeks ago that we had discussed last time is now closing in to hit the Support on the yellow lower line of the Symmetric Triangle at 12 300 points. It looks like the current consolidation is entering its final phase. Therefore it should be considered that the current Move could be the last Pullback right ahead of a possible Breakout to the upper side.







DAX consolidates in Symmetric Triangle

Sunday, 2018-07-29

On the chart we see a yellow Symmetric Triangle, which started forming with the begin of the current Correction 6 months ago at the end of January. At the moment the DAX is moving sideways within that Triangle in a 600 points deep Sideways Range between 12 300 and 12 900 points. If the DAX happens to rebound from the yellow upper line of the Symmetric Triangle which provides Resistance at about 12 950 points during the next few days then a Downward Move towards the yellow lower line of the Symmetric Triangle which provides Support at about 12 300 points should be taken into consideration. Such a Downward Move could be followed by an Upward Move that could lead to a Breakout attempt to the upper side. That could still be happening by end of August. Before a continuation of the now 9,5 years lasting Bull Market seems rather unlikely.