Is the DAX30 CFD about to recapture 12,000 points in the coming
As we enter the start of the week, the economic calendar is quite thin due to the US bank holiday "Labour Day" (please check the Trading Schedule for modified trading hours at Admiral Markets here), so we shouldn't expect huge volatility and big moves, especially in the DAX30 CFD.
Still, the technical picture looks very interesting after the German index broke above 11,800/850 points and went for a test of the psychological relevant region around 12,000 points into the weekly close.
A direct follow through failed, but the DAX30 CFD seems solidly supported around 11,800/850 points and if we get to see a re-test of this region, we consider it to be an interesting long-trigger.
In general, as long as the DAX30 CFD trades above 11,570 points, we consider the mode on H1 bullish and if the scenario described above plays out and the German index breaks above 12,000 points, further gains up to 12,270/300 points in the days to come are a serious option.
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, the technical picture looks very interesting after the German index broke above 11,800/850 points and went for a test of the psychological relevant region around 12,000 points into the weekly close.
A direct follow through failed, but the DAX30 CFD seems solidly supported around 11,800/850 points and if we get to see a re-test of this region, we consider it to be an interesting long-trigger.
In general, as long as the DAX30 CFD trades above 11,570 points, we consider the mode on H1 bullish and if the scenario described above plays out and the German index breaks above 12,000 points, further gains up to 12,270/300 points in the days to come are a serious option.
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.
