DAX30 CFD bears regain control – focus on 11,550
The week kicks off with a very thin economic calendar, however, the latest developments and escalations in the trade dispute between the US and China can deliver enough potential fuel for volatility.
Still, we want to focus on the technical side in the DAX30 CFD. After the German index failed to take on further momentum on the upside into the last weekly close, a line in the sand on the upside holds at around 11,850 points today.
Should a break higher be initiated, further gains up to 12,000/030 points seem likely, even though we consider the technical picture on H1 to favour the short-side as long as we trade below 12,250 points.
In general, if after taking a breath from last Tuesday onwards, DAX30 CFD bears start to regain control and another stint lower seems a serious option. Here the key level, in our opinion, is around 11,550 points: a break lower leaves the German index vulnerable to a further drop with an initial target around 11,250 points, the region around the March lows.
Ready to take your trading to the next level? Find out how in Admiral Markets’ new webinar series Trading Spotlight, where our trading experts will be discussing risk management, trading psychology, and their top strategies for trading the world’s most popular markets - admiralmarkets.com/e.../trading-spotlight-1
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Still, we want to focus on the technical side in the DAX30 CFD. After the German index failed to take on further momentum on the upside into the last weekly close, a line in the sand on the upside holds at around 11,850 points today.
Should a break higher be initiated, further gains up to 12,000/030 points seem likely, even though we consider the technical picture on H1 to favour the short-side as long as we trade below 12,250 points.
In general, if after taking a breath from last Tuesday onwards, DAX30 CFD bears start to regain control and another stint lower seems a serious option. Here the key level, in our opinion, is around 11,550 points: a break lower leaves the German index vulnerable to a further drop with an initial target around 11,250 points, the region around the March lows.
Ready to take your trading to the next level? Find out how in Admiral Markets’ new webinar series Trading Spotlight, where our trading experts will be discussing risk management, trading psychology, and their top strategies for trading the world’s most popular markets - admiralmarkets.com/e.../trading-spotlight-1
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.