Dax Outlook 2015 W03

Dax Outlook 2015 W03

Last week the Dax recovered a bit but was not able to cross above 9’830. It has formed a wedge now (in maroon) and a breakout to the top would offer a further potential of around 500 points.

The MACD is bearish, the RSI is neutral and the VDAX is up to 21.11.

Altough a breakout to the top would be favourable, I do not expect this to happen in the coming week. My scenario considered most likely, is within a trading range of 9’589 to 9’830 with a slightly bullish close of the week.

Support: 9’589, 9’400,  Resistance: 9’830, 9’930