DAX intraday : Neutral. The index moved back to the top of its range, but failed to breach new highs. Intraday we could see a return towards the middle or the bottom of the range
Intraday supports: between 13450 (gap, middle range) and 13380 (bottom of range)
Intraday resistance: 13560 (top of range) and 13605 (All time high)
As opposed to US indices, the DAX is struggling to print new highs as it approaches its all-time high at 13605. The picture is also deteriorating with a notable bearish divergence on the daily RSI. While the long-term trend remains firmly on the upside, a consolidation in the short-term may be needed before the index can move meaningfully higher and breach the ATH.
IG Client Sentiment:
Germany 30: Retail trader data shows 22.78% of traders are net-long with the ratio of traders short to long at 3.39 to 1. The number of traders net-long is 5.35% higher than yesterday and 4.72% higher from last week, while the number of traders net-short is 2.55% higher than yesterday and 0.31% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Germany 30 prices may continue to rise. Yet traders are less net-short than yesterday and compared with last week. Recent changes in sentiment warn that the current Germany 30 price trend may soon reverse lower despite the fact traders remain net-short.
Intraday supports: between 13450 (gap, middle range) and 13380 (bottom of range)
Intraday resistance: 13560 (top of range) and 13605 (All time high)
As opposed to US indices, the DAX is struggling to print new highs as it approaches its all-time high at 13605. The picture is also deteriorating with a notable bearish divergence on the daily RSI. While the long-term trend remains firmly on the upside, a consolidation in the short-term may be needed before the index can move meaningfully higher and breach the ATH.
IG Client Sentiment:
Germany 30: Retail trader data shows 22.78% of traders are net-long with the ratio of traders short to long at 3.39 to 1. The number of traders net-long is 5.35% higher than yesterday and 4.72% higher from last week, while the number of traders net-short is 2.55% higher than yesterday and 0.31% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Germany 30 prices may continue to rise. Yet traders are less net-short than yesterday and compared with last week. Recent changes in sentiment warn that the current Germany 30 price trend may soon reverse lower despite the fact traders remain net-short.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.