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DAX LEVELS TO MONITOR

DAX: what will be the levels to monitor for the coming week?

The German index had a fairly complex week in the financial markets. The movements, up to Thursday, were quite outlined (12800-13050). On Friday the DAX closed just above the level (12770) trading range we had seen last Sunday(here).

There had been talk of how the German market was beginning to have more pronounced difficulties going up. In fact, no new period highs have been seen, but lower highs with an h4 time frame that is increasingly attacking the lower price band.

Dax: levels to monitor. Technical Analysis

I will not deny you that theanalysis of the DAX index for the coming week is very complex and difficult to do. Let’s go look at these levels and try them anyway.

DAX: what will be the levels to monitor, then?

In the chart above we can see how the 12626 area is an important level for defending the markets’ long positions. As long as there is no break below that price, the market could create yet another 12626-12882 laterality.

For now I see a possible break out around the 12882 level. The market could close the shorts left from there and break to the upside toward at least 13024, where a play for new period highs would go on.

The area between 12508 and 12626 also has volumetric and interest gaps. I would remain firm in this range, while below the 12508 level we keep our eyes open for possible and likely increased short positions, at least up to 12350.

As always, I try to go out on a limb: I see a market that can go down again for this August finale, at least to the 12626 area, but again, let ‘s follow the market and not make predictions that leave time to be found.

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