Good Evening and I hope you are well.
comment: Just have to be bullish about this double bottom below 24300. Same reasoning as for dax. Friday was so strong that I expect bears just gave up. I expect at least 25700 early next week and then we can have a pullback before the market decides if we print new highs or not.
current market cycle: trading range since November but since bears just fail to close consecutively below the weekly 20ema, we are also still in the bull trend
key levels for next week: 25000 - 27000
bull case: Big double bottom with the November low and Friday was strong enough to expect much upside. A measured move up would bring us very close to the January high and that is most likely the most important resistance for next week. The bulls have all the arguments on their side to continue sideways to up. We have not traded below 24000 since September 2025 and every touch or dip below the weekly 20ema is heavily bought. Upside targets in order are 25500, 26000, 26360, 26650, 27000.
Invalidation is below 24153
bear case: Exactly the same as in dax. As a bear you can not hold short here. Only a news-bomb can reverse it. I’d be very surprised if we stay below 26100 next week.
Invalidation is above 26100
short term: Bullish for at least 26000. We could dip down to 24800 again before more upside but I highly doubt that.
medium-long term - Update from 2026-02-08: Neutral over the next months. At least for now. I hope for a bigger down turn but at the moment I can only expect new ath so it’s stupid to look for lower targets than 24000.
comment: Just have to be bullish about this double bottom below 24300. Same reasoning as for dax. Friday was so strong that I expect bears just gave up. I expect at least 25700 early next week and then we can have a pullback before the market decides if we print new highs or not.
current market cycle: trading range since November but since bears just fail to close consecutively below the weekly 20ema, we are also still in the bull trend
key levels for next week: 25000 - 27000
bull case: Big double bottom with the November low and Friday was strong enough to expect much upside. A measured move up would bring us very close to the January high and that is most likely the most important resistance for next week. The bulls have all the arguments on their side to continue sideways to up. We have not traded below 24000 since September 2025 and every touch or dip below the weekly 20ema is heavily bought. Upside targets in order are 25500, 26000, 26360, 26650, 27000.
Invalidation is below 24153
bear case: Exactly the same as in dax. As a bear you can not hold short here. Only a news-bomb can reverse it. I’d be very surprised if we stay below 26100 next week.
Invalidation is above 26100
short term: Bullish for at least 26000. We could dip down to 24800 again before more upside but I highly doubt that.
medium-long term - Update from 2026-02-08: Neutral over the next months. At least for now. I hope for a bigger down turn but at the moment I can only expect new ath so it’s stupid to look for lower targets than 24000.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.