What's the current state on the DAX 30 index?
So, what's the summary?
The DAX 30 index has been in a trendless situation for a while now. The risk/reward ratio is not very good for long entries. Still, I wouldn't go short here since as soon as the DAX declines, enough buyers will hit on low prices.
My estimation is, that the trendless situation might continue a little longer, before we might see higher higs. Mid-term: Long; Short term: Sideways
DAX
- Envelopes show a trendless situation (sideways)
- RSI shows a trendless situation, but has a very small upside tendency
- Custom self-written McClellan oscillator shows that there is a small upside momentum, with more index members (individual stocks) advancing; we might see the peak on this indicator soon, though
So, what's the summary?
The DAX 30 index has been in a trendless situation for a while now. The risk/reward ratio is not very good for long entries. Still, I wouldn't go short here since as soon as the DAX declines, enough buyers will hit on low prices.
My estimation is, that the trendless situation might continue a little longer, before we might see higher higs. Mid-term: Long; Short term: Sideways
DAXComment
Bollinger Bands and Envelops show a slight upside tendency now.McClellan Oscillator is still positive, even with a little gain in momentum.
We might see a little breakout to higher areas soon. At the moment, there are no signs of overheating, so there is some upside potential.
My optimistic price goal for the next days is is around 15 870.
Trade closed: target reached
Target was reached this week, closing the trade.Disclaimer
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