Dax Outlook Week 12

In week 11 the Dax first had to collect some momentum to be able to surpass the 8’000 line. This was accompanied with higher than usual volume because of maturities on the derivates market.

The MACD is still bullish, the RSI hovered close to oversold and the VDAX dropped further to 13.32.

In week 12, I think there is room for a consolidation again. Also closing the gap from last week’s Thursday. If the Dax drops below 7’900 the recent uptrand seems to be broken.