Dax Outlook Week 15

In week 14 the Dax dropped quite heavy to around 7’660 last week and therefore breaking through the medium term support.

The MACD is very bearish, the RSI is oversold and the VDAX rose to 17.58.

In week 15 I would expect a small conterreaction to previous’ weeks downmove. The trading range for the week should be between 7’550 and 7’770 and if no important news hit the market, the Dax will most likely be consolidating around 7’700 points.