Dax Outlook Week 21

The Dax continued to fall throughout last week marking lower highs every day. It closed the week at 6’271 points.

The VDax rose tp 27.65, the MACD continued bearish and the RSI shows an oversold situation.

For the coming week, I would expect the Dax to turn and regain some ground. This is due to the oversold situation and the support line arounf 6’130 points.
My preferred scenario would therefore be to hit the support and then recover to about 6’400.
The whole market environment is still nervous and therefore this is my 60% probability view.

 

Disclaimer

 

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