DAX – daily outlook: hard work all-time high test made you tired, another day of consolidation…

Analyse

The tour de force DAX all-time high test 16290 made you tired, another day of consolidation expected. Here is today’s DAX forecast…

• DAX – WKN: 846900 – ISIN: DE0008469008 – Rate: 16,223.99 Pkt (XETRA)

Underlying value/ current price: DAX pre-exchange 16200 / Xetra closing price: 16224

current resistances: 16290 + 16332 + 16400 / + 16450

current supports: 16193/16163 + 16090/16068 / + 16012/15997/15982

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DAX daily outlook, Tue, 23.5.23

DAX main variant (60%):

• The DAX showed “fatigue” in trend behavior at Friday’s high 16332, because the RSI clearly diverged.
  The resulting DAX consolidation pattern since Friday’s high is generally harmless for DAX bulls/ DAX LONG investors, even if this clientele is somewhat concerned about the major target reached at 16290 (in an onset of a seasonally weaker environment, I reported on this, so ) should do.
• The DAX could trend sideways all day today and maintain yesterday’s range.
  
  The index today is therefore largely between 16260/16290 and 16193/16163, extended between 16260/16290 and 16090/16062.
• The DAX chart picture is looking for further DAX highs at 16332+x soon, either starting from 16193/16163 or starting from 16090/16068 (condition: no crossing of 15982 or 15860).

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• BULLISH: Above 16332, 16400 would be a target today, 16450 is not yet achievable.

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• BEARISH: Below 15860 there would be sell signals and further near yearly highs will then not occur.

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Good luck to Rocco
Meine Premium-Services ADT /ADA: Tägliches Trading von DAX, DOW, SPX & NDX, viele Chartupdates von 8-22 Uhr

Charts

Pfeillogik:

BLUE ROUTE is favored, has the highest probability, approx. 60%
GREEN = best case history
ROT = worst case course

DAX hourly candlestick chart

DAX daily candle chart

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