Index News – DAX 40 Price Forecast & Technical Analysis
16 Nov 2022
DAX 40 ENTERS BULL MARKET TERRITORY
Dax 40 has entered bull market territory after rising 20% from the October low of 11829. With last week’s US inflation miss driving equity futures higher, the major stock index flew through prior resistance before stalling at 14351 (the weekly high).
After announcing the approval of a massive €5 Billion expansion project, a positive 2023 outlook has seen Infineon Technologies rise by 7% (at the time of writing). As healthcare, technology, and basic materials lead gains, German 40 is narrowing in on resistance at 14450.
DAX 40 INDEX TECHNICAL ANALYSIS:
DAILY CHART:
In daily chart DAX 40 is moving in upside channel.
It is currently trading above all MA.
RSI is in buying zone stochastic is suggesting uptrend.
Its immediate resistance is at 1440.3 and immediate support level is at 14197.8
HOW TO TRADE DAX 40 INDEX IN THIS WEEK
DAX 40 is moving in an up channel if it breaks it immediate resistance and sustains on it then market will continue to trade up, remain bullish on it.