As we told you, the 12.887 will be hit. Now it will be exciting whether this will withstand the attacks of the bulls in the course of the next week or whether the bulls will march further to the all time high.
The current new high for the year in the DAX register is 12,914 points.
What happens next?
The all time high is on the menu of the bulls, but until then there are still 3 resistances to count. We are currently (as of today) only 702 points away from the ATH . If we look at the distance to the low of 2018, it is 2,615 points. The already communicated triangle has broken out and is running splendidly.
The most important and strongest resistance to the upside is the 12.887. This is to be trumped on a weekly basis.
The next targets are the 12,887 on a weekly basis and then the 13,110 points. The DAX has to overcome these important brands. Zone 12,887 is a very strong for the DAX . In addition, at least two small pauses should be expected on the way up. We will certainly take a break at the magical 13k . Profit taking is normal after such a rally, but should not break the trend. When will this strategy be revised if the 12,603 is undercut without first marking a new high?
Don't forget: On Wednesday is the FED and at the end of the month is again Brexit-Time
What do you think?