Bulls on a roll: DAX30 CFD recaptures 12,000 points
As we enter the start of the week, the economic calendar is quite thin, so we want to focus solely on the technical side in the DAX30 CFD.
After breaking above 12,000 points and re-testing 12,180/200 points into the last weekly close, driven mainly by a headline last Thursday which stated that the U.S. and Chinese envoys will meet in early October for additional talks aimed at ending the tariff war that threatens global economic growth, the picture in the German index stays bullish.
This is technically true on an Hourly time-frame as long as we trade above 11,800/850 points even though the technical picture starts to darken a little if the DAX30 CFD drops below 12,080 points, giving the technical picture on H1 a neutral touch.
As long as we hold above 12,080, the target on the upside stays around 12,270/300 points.
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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.
After breaking above 12,000 points and re-testing 12,180/200 points into the last weekly close, driven mainly by a headline last Thursday which stated that the U.S. and Chinese envoys will meet in early October for additional talks aimed at ending the tariff war that threatens global economic growth, the picture in the German index stays bullish.
This is technically true on an Hourly time-frame as long as we trade above 11,800/850 points even though the technical picture starts to darken a little if the DAX30 CFD drops below 12,080 points, giving the technical picture on H1 a neutral touch.
As long as we hold above 12,080, the target on the upside stays around 12,270/300 points.
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.