Dax Outlook Week 42

In week 41 the Dax stayed below the 10day Moving Average for most of the past week. It came down to 7’232 trading with below average volume.

The VDax rose to 17.11, the MACD stayed bearish and the RSI is in the middle of the neutral area.

The Dax is currently slightly below the upward channel, so this week could  be crucial. Either we come back into the upward trend, which could then fuel a little ralley up to 7’400 or if we stay below the upward channel, I would expect a week of consolidation where the Dax trades mostly sideways between 7’190 and 7’400.