Dax Outlook Week 48

Apart from little moves below 9’200 the Dax managed to close the week above this level going along the upper trendline.

The MACD is still bearish, the RSI is still oversold and the VDAX is lower at 11.53.

The uptrend is still intact but it would be time for a little consolidation. A breakout over 9’250 could fuel a stronger upmove and delay the consolidation. A fall below 9’200 would make room for a correction down until 9’100 or 9’050.