DAX morning analysis: DAX over 13,000 at the beginning of the week


The past week still weighs heavily on our memories as the price has dropped by around 5 percent. As in the previous week, there were sell-offs and negative days that hit us mainly after Thursday’s Fed event.

There was another revival in overnight trading on Friday, but the day of lapse wiped it out immediately. The resulting gap was closed very quickly. However, on Thursday we were not down and thus created a short-term bottom. In this region the gap is closing and above Thursday’s low I was trading my first long position on Friday.

From 13,020 points, the market turned sharply, then reoriented itself to the expiry date at the top. The opening peak was broken and then paved the way for Thursday afternoon’s levels.

With the expiry date at Eurostoxx, new impetus has been built up and targeting the 13,200 mark. However, the DAX did not gain momentum. The opening in the US resulted in another slight correction. With lighter futures, uncertainty continued to dominate in the US, bringing the DAX back to the 13,000 mark. That sign continued until trade close, eventually allowing us to close in the middle of the day’s range.

Exactly 0.67 percent plus on the expiry date yielded the second plus day of the week:

20220617 Xetra DAX expiration date

20220617 Xetra DAX expiration date

And also let the day of the expiry of the “mystery” lose its horror. As the throughput was quite normal, the trading volume was also not particularly high.

So far, the mark of 13,000 has been at a distance of 7 points.

The ranking of the shares from the Frankfurt Stock Exchange and the closing price can be viewed here:

20220617 DAX Frankfurt Stock Exchange

20220617 DAX Frankfurt Stock Exchange

Losses since Green Monday are now 1,700 points in the largest area. From the day of the ECB, there is a very steep downward trend with a 10% discount:

20220619 Xetra DAX hour chart

20220619 Xetra DAX hour chart

There were a few price gaps along the way that are still open and therefore are potential signs of improvement:

20220619 Gaps in the Xetra DAX hourly chart

20220619 Gaps in the Xetra DAX hourly chart

We will talk about these brands in my perspective.

How can DAX be continued at the beginning of the week?

Exactly a week ago, when we looked at the “Big Picture”, we noticed the importance of the overarching signal (review):

20220612 DAX Xetra Big Picture support

20220612 DAX Xetra Big Picture support

That won, and technically, you can now use the March low as a clue:

20220619 Xetra DAX large image

20220619 Xetra DAX large image

In short, I will use the shown gaps and gradient zones from the horizontal marks to derive the recovery levels:

20220619 Reflection of the Xetra DAX hour chart

20220619 Reflection of the Xetra DAX hour chart

In yesterday’s chart analysis, I outlined a starting range of 13,000 as psychological support and 13.23x as the starting recovery level for Monday.

We started the pre-sale almost unchanged. Crossing 13,150, I was targeting Friday’s highs, the region holds, and I’m also testing overnight trade lows with an option (at break) to around 13,000:

20 220 620 pre-market DAX

20 220 620 pre-market DAX

Without US trade, however, it should be a quiet day OR like Pentecost Monday, a trade day that will be revised on Tuesday.

I invite you to follow the course of trading and trading live with me and other traders on Germany’s first HD financial stream channel – the Twitch FIT4FINANZEN channel. Conveniently via the home page or app:

FIT4FINANZEN Twitch on the home page

FIT4FINANZEN Twitch on the home page

by the way: I will send you these graphics as a preparation for trading every morning by e-mail – if you signed up.

You will receive detailed market expectations every day in the form of an e-mail to your e-mail address.

On Monday at 3:30 pm, we will start trading live for the US session, even if there should be no trades here, with some comments on the rest of the markets. Click on this link to register:

Trade room for trade on JFD

There we go to the stocks that caused the volatility in the quarterly data and are technically exciting. There should also be a “revival” of the mail distribution list.

The transmission plan is as follows:

20220620 FIT4FINANZEN stream plan

20220620 FIT4FINANZEN stream plan

EU producer prices and construction output will be assessed from Germany on Monday.

At noon, we will also look at the monthly Bundesbank report.

All key data mentioned are listed here:

20 220 620 economic data

20220620 economic data

Consequently, I wish us every success at the start of trading this week and look forward to meeting in other formats.

Regards, Andreas Bernstein

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