German DAX Holding Strong Above Support
Chart Analysis:
The DAX Index continues its bullish trajectory, maintaining a steady uptrend with prices hovering near recent highs. Despite a minor pullback, the overall trend remains intact, supported by key technical levels.
1️⃣ Uptrend Intact with Rising Support:
The trendline (blue) continues to provide dynamic support.
A shallow retracement suggests buyers remain in control.
2️⃣ Moving Averages as Key Support:
50-day SMA (blue): 20,368.88, providing a reliable support zone.
200-day SMA (red): 19,066.15, reinforcing the long-term bullish bias.
3️⃣ Momentum Indicators Reflect Strength:
RSI: At 67.70, showing strong momentum but approaching overbought levels.
MACD: Trending higher, confirming continued upside momentum.
What to Watch:
A sustained move above 21,500 could trigger further upside toward 22,000+.
A break below the trendline or the 50-day SMA could signal deeper consolidation before another leg higher.
RSI nearing overbought conditions suggests traders should watch for potential short-term pullbacks.
The DAX Index remains bullish, with rising moving averages and trendline support reinforcing the momentum. Traders should monitor price action near key support levels for potential buying opportunities.
-MW
The DAX Index continues its bullish trajectory, maintaining a steady uptrend with prices hovering near recent highs. Despite a minor pullback, the overall trend remains intact, supported by key technical levels.
1️⃣ Uptrend Intact with Rising Support:
The trendline (blue) continues to provide dynamic support.
A shallow retracement suggests buyers remain in control.
2️⃣ Moving Averages as Key Support:
50-day SMA (blue): 20,368.88, providing a reliable support zone.
200-day SMA (red): 19,066.15, reinforcing the long-term bullish bias.
3️⃣ Momentum Indicators Reflect Strength:
RSI: At 67.70, showing strong momentum but approaching overbought levels.
MACD: Trending higher, confirming continued upside momentum.
What to Watch:
A sustained move above 21,500 could trigger further upside toward 22,000+.
A break below the trendline or the 50-day SMA could signal deeper consolidation before another leg higher.
RSI nearing overbought conditions suggests traders should watch for potential short-term pullbacks.
The DAX Index remains bullish, with rising moving averages and trendline support reinforcing the momentum. Traders should monitor price action near key support levels for potential buying opportunities.
-MW
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.