CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
For institutions
Log in Open account
UAE
Ipadchart_1024x768M

Technical Update - DAX/GER40

Equities 2 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

Despite US equities closed higher yesterday DAX doesn’t seem to be able to break higher. For the rebound since the 7th March trough around 12,500 to regain traction DAX needs to close above the Bear Engulfing formed Wednesday. A Bear Engulfing candle is top and reversal candle. If that scenario plays out a test of 15K is likely.
If the GER40 cfd/future breaks above 14,580 it will be a good indication 15K could be tested.

A daily close on DAX below 13,989 is likely to bear trend to resume. RSI is still below 60 which indicates the bear trend to resume.

02_07_2021_JJH_Update_01
Source: Saxo Group
GER40 25 mar
Source: Saxo Group

This content is marketing material.

None of the information provided on this website constitutes an offer, solicitation, or endorsement to buy or sell any financial instrument, nor is it financial, investment, or trading advice. Saxo Bank A/S and its entities within the Saxo Bank Group provide execution-only services, with all trades and investments based on self-directed decisions. Analysis, research, and educational content is for informational purposes only and should not be considered advice or a recommendation.

Saxo’s content may reflect the personal views of the author, which are subject to change without notice. Mentions of specific financial products are for illustrative purposes only and may serve to clarify financial literacy topics. Content classified as investment research is marketing material and does not meet legal requirements for independent research.

Saxo partners with companies that provide compensation for promotional activities conducted on its platform. Some partners also pay retrocessions contingent on clients investing in products from those partners.

While Saxo receives compensation from these partnerships, all educational and research content remains focused on providing information to clients.

Before making any investment decisions, you should assess your own financial situation, needs, and objectives, and consider seeking independent professional advice. Saxo does not guarantee the accuracy or completeness of any information provided and assumes no liability for any errors, omissions, losses, or damages resulting from the use of this information.

Please refer to our full disclaimer and notification on non-independent investment research for more details.


Business Hills Park – Building 4,
4th Floor, office 401, Dubai Hills Estate, P.O. Box 33641, Dubai, UAE

Contact Saxo

UAE
UAE
Products & pricing
Platforms
Accounts & service
General
Other
Legal

Warning

All trading and investing comes with risk, including but not limited to the potential to lose your entire invested amount.

Information on our international website (as selected from the globe drop-down) can be accessed worldwide and relates to Saxo Bank A/S as the parent company of the Saxo Bank Group. Any mention of the Saxo Bank Group refers to the overall organisation, including subsidiaries and branches under Saxo Bank A/S. Client agreements are made with the relevant Saxo entity based on your country of residence and are governed by the applicable laws of that entity's jurisdiction.

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