Dax Outlook Week 04

After a short dip at the start of week 03 the Dax managed to finish the week just above 7’700 points.

The MACD is still negative, the RSI retreated further from the oversold range and the VDAX hovers around 13.40.

I would expect the Dax to test the 7’600 level again in the coming week. Breaking through this level to the downside would make room for a correction to 7’350. For  the Dax to go back to bullish it would need to close above 7’800 points, what I currently consider less likely. We will see…