Technical Update - DAX / GER40
Kim Cramer Larsson
Technical Analyst, Saxo Bank
DAX ran out of steam a few points below key resistance at around 14,952 and below the 0,764 retracement at 14,958.
RSI got rejected at 60 i.e. still showing bear sentiment.
The Index is back below 55 daily SMA (Simple Moving Average). 55, 100 and 200 SMA’s are all falling supporting the picture of an underlying negative sentiment.
The 5 wave down scenario outlined earlier this year is still intact and will remain intact as long as DAX is not closing above 15K.
However, DAX could be stuck in a range between 14,900 and 14,000 next few days. We could see selling pressure intensify over the next few days. If closing below 14K selling pressure is likely to intensify.
GER40 cfd (DAX Future) rejected at the 0,764 Fibonacci retracement If breaks below 14K selling pressure likely to pick up and bear trend to resume.
Quarterly Outlook Q2 2022
Quarterly Outlook Q2 2022: The End Game has arrived
Shocks from covid and the war in Ukraine have forced the global financial and political world to change, but what will the end game be?
Productivity and innovation have never been more importantAs the world economy hits physical limits and central banks tighten their belts, could equities be facing a 10-15% downside?
The great EUR recovery and the difficulty of trading itIf the terrible fog of war hopefully lifts soon, the conditions are promising for the euro to reprice significantly higher.
Tight commodity markets – turbocharged by war and sanctionsWith supply already tight, commodities keep powering on. But will it last for yet another quarter?
Between a rock and a hard placeGeopolitical concerns will add upward price pressures and fears of slower growth, while volatility will remain elevated.
The Great ErosionInflation is everywhere and central banks try to combat it. But will they get it under control in time?
Australian investing: Six considerations amid triple Rs: rising rates, record inflation and likely recessionWhile global financial markets are struggling in an uncertain world, the commodity-heavy Australian ASX index is poised to keep a positive momentum.
Cybersecurity – the rush to catch up with realityWith the invasion of Ukraine, governments and private companies are rushing to reinforce their cyber defenses.