GER40 weekly analysis: Sticky upwards
https://www.tradingview.com/x/N3skmcKU/
Key levels:
R1 – 15700
R2 – 15476
S1 – 15290
S2 – 14979
S3 - 13808
Analysis:
DAX40’s price action this year is a lot like Nasdaq 100. It seems to largely remain sticky upwards. Despite the intensity of its selloff after the SVB spillover to Europe, specifically Switzerland. The index recovered its price action from a slump back above January 2023 highs above 15,000, placing it only 600-700 points below yearly high of 15700. This week, it is expected that price action largely remains above 15,000 unless any large negative sentiment and bearish market catalyst curtails this move. The failure to maintain S2 will open doors to retest SVB crisis lows of 13808.
Key levels:
R1 – 15700
R2 – 15476
S1 – 15290
S2 – 14979
S3 - 13808
Analysis:
DAX40’s price action this year is a lot like Nasdaq 100. It seems to largely remain sticky upwards. Despite the intensity of its selloff after the SVB spillover to Europe, specifically Switzerland. The index recovered its price action from a slump back above January 2023 highs above 15,000, placing it only 600-700 points below yearly high of 15700. This week, it is expected that price action largely remains above 15,000 unless any large negative sentiment and bearish market catalyst curtails this move. The failure to maintain S2 will open doors to retest SVB crisis lows of 13808.
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