Dax (Performanceindex) (DAX.DAX30)

Short term

Dax (Performanceindex) is in a falling trend channel in the short term. Falling trends indicate that the market experiences negative development and falling buy interest among investors. The price has broken the support at 19048 of an a head and shoulders formation. Decisive breaks of such formations are considered a strong signal of further fall. It also gave a negative signal from the rectangle formation at the break down through the support at 19042. Further fall to 18617 or lower is signaled. The index is testing support at points 19000. This could give a positive reaction, but a downward breakthrough of points 19000 means a negative signal. The index is overall assessed as technically negative for the short term.

Recommendation one to six weeks: Negative (Score: -87)

Medium term

Dax (Performanceindex) shows strong development within a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index has broken a head and shoulders formation. A decisive break, preferably with increasing volume, is considered a confident signal of the start of a falling trend. The index is approaching support at 18800 points, which may give a positive reaction. However, a break downwards through 18800 points will be a negative signal. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The index is overall assessed as technically neutral for the medium long term.

Recommendation one to six months: Hold (Score: -23)

Long term

Dax (Performanceindex) is in a rising trend channel in the long term. This signals increasing optimism among investors and indicates continued rise. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 16300 points. The index is assessed as technically positive for the long term.

Recommendation one to six quarters: Positive (Score: 90)