German 40

[Goran]

how likely will it break the rise

[MongiIG]

DAX leaves 200-day MA far behind

‘Regime change’ is evident here too, with the index operating firmly above the 200-day SMA, above trendline resistance from the February high and at its highest level in five months.

Last week witnessed a decisive leap higher from the 200-day SMA, and now the index may enter a consolidation phase, perhaps edging back towards 14,000. But with trendlines broken and the 200-day SMA breached, we may see further buying on the dips.

Further gains target 14,600 and then 14,720, the highs from May and March respectively.

Source: ProRealTime

 

Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 14 November 2022