background image background image background image

Technical Update - DAX and GER40 rejected at key resistance levels. Will selling pressure resume?

Equities 2 minutes to read
Kim Cramer Larsson

Technical Analyst, Saxo Bank

DAX and GER40 cfd rejected at key resistance. Will buyers have another go at it or will selling pressure resume pushing the Index to new lows

was rejected Friday at key resistance at 12,673. A close above next strong resistance is at 12,927.
If DAX drops back in the GAP area i.e., closes below 12,358 selling pressure is likely to accelerate in an effort to push DAX below 12,09. If sellers succeed in closing DAX below 12,209  and RSI drops back below 40, September low at 11,862 is likely to be tested and taken out.
If that scenario plays out Consolidation area lows at around 11,450 is in sight.
DAX d 17oct
Source all Charts and data in this article : Saxo Group
DAX w 17oct


GER40 cfd/DAX Future was rejected at 12,700. To continue rebound GER40 must close above 12,703 for 12,900 resistance level.
If GER40 can’t keep upside momentum and starts sliding back below 12,354 selling pressure is likely to accelerate. And if GER40 then drops back below last weeks low at 11,993 we are likely to witness a push towards strong support at around 11,508

GER40 d 17oct
GER40 w 17oct


The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.

Please read our disclaimers:
Notification on Non-Independent Investment Research (
Full disclaimer (
Full disclaimer (

Saxo Bank A/S (Headquarters)
Philip Heymans Alle 15

Contact Saxo

Select region


Trade responsibly
All trading carries risk. Read more. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

This website can be accessed worldwide however the information on the website is related to Saxo Bank A/S and is not specific to any entity of Saxo Bank Group. All clients will directly engage with Saxo Bank A/S and all client agreements will be entered into with Saxo Bank A/S and thus governed by Danish Law.

Apple and the Apple logo are trademarks of Apple Inc, registered in the US and other countries and regions. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.