The DAX (performance index) has recovered from fib retracement 61.8% and broke the resistance at 12.286 pts (swing trend line).
Next resistance is fib retracement 78.6% (12.600 pts).
The fundamental facts aren´t negative, the Euro could lose some strength vs other currencies, the US tariffs won´t be too hard for the european economy, especially the german industry.
So the DAX could break the resistance and continue to the last ATH.
1. aim: fib retracement 78.6% - if it´s broken then
2. aim: swing trend line at 13.050 points - if it´s broken then
3. aim: ATH at 13.600 points
All of these resistance-lines are also take profits.
In the very long run I expect a correction which will lead the DAX to lower levels than we´ve alsready seen in this year.
Next resistance is fib retracement 78.6% (12.600 pts).
The fundamental facts aren´t negative, the Euro could lose some strength vs other currencies, the US tariffs won´t be too hard for the european economy, especially the german industry.
So the DAX could break the resistance and continue to the last ATH.
1. aim: fib retracement 78.6% - if it´s broken then
2. aim: swing trend line at 13.050 points - if it´s broken then
3. aim: ATH at 13.600 points
All of these resistance-lines are also take profits.
In the very long run I expect a correction which will lead the DAX to lower levels than we´ve alsready seen in this year.