DAX forecast: XETRA DAX shows bullish signals, but also potential downward risks until 16530 - financial expert Rocco

DAX forecast: XETRA DAX shows bullish signals, but also potential downward risks until 16530 - financial expert Rocco

According to a report by stock3.com,

Today's DAX forecast suggests that the DAX upward trend is intact and the “flagpole” continues. The DAX is expected to continue rising until 5:30 p.m.

Underlying value/current price: XETRA DAX closing price 16759
DAX pre-market: 16780
VDAX NEW: 13.73
ATR: 112 DAX points

XETRA DAX resistances: 16870 (ATR) + 16970 (Pivot R3) + 17000
XETRA DAX Supports: 16759/16750 + 16727/16711 + 16648 (ATR) + 16595 + 16530/16513 (Pivot S3)
Stop sell: 16636-x

Bullish: The DAX has exceeded the summer high of 16529 and is heading towards the breakout target of 17824. Possible targets for today are 16870 and 16970.

Bearish: It is noted that the DAX could also fall and it is recommended to pay attention to the lower trend change levels. A trend changing “stop-sell” level would be 16636-x, with downside risks to 16595 and 16530.

From an economic perspective, it is important to note that the DAX could experience strong fluctuations given this forecast. The various resistance and support levels could lead to significant price movements, especially if the mentioned levels are broken. This could have significant implications for both institutional and retail investors, especially if they hold large positions in the DAX. It is important that investors monitor developments closely and adjust their trading decisions accordingly.