Dax Outlook Week 49

Week 48 started quite volatile and the discussions about the helps for Greece kept market participants nervous.  The Dax rose further and closed the week around 7’405.

The VDax fell to 13.91, the MACD is very bullish and the RSI is on the upper side of the neutral area.

After the Dax climbed up to 7’400 we saw it closing quite a bit below the daily highs on Thursday and Saturday which could signal a bit of weakness around the 7’400-7’450 area.

In the coming week I see a good possibility of the Dax starting a bit higher and the falling during the week on profit taking and lack of good news down to 7’300 or even 7’150 at maximum.