Market Analysis: ​DAX finds support at 11,400 – bears with another attack on Monday?

  • master
  • 13.11.2018
  • Comments Off on Market Analysis: ​DAX finds support at 11,400 – bears with another attack on Monday?


Since the economic calendar is very thin into the start of the trading week, we want to draw a 100% technical picture for the DAX 30 CFD today. After a failed attempt to break above 11,670/700 points on Thursday last week, the DAX30 CFD saw another stint down to the important short-term support region of around 11,400/430 points. While on Friday, a break couldn’t be achieved from the bears, it seems likely that another attempt for a break lower into the start of the trading week is just around the corner.

Economic Announcements - Forex Calendar

Source: Economic Events 12 November 2018 – Admiral Markets’ Forex Calendar

If such an attempt succeeds, another run down to the current yearly lows around 11,050 points in the upcoming days seems possible, a stopover can be found around 11,150/200 points. On the upside the ‘make-or-break’ level remains in the region around 11,670/700 points. With a break in the days to come, a stint towards 11,850/900 is very likely.

DAX30 CFD Hourly Chart

Source: Admiral Markets MT5 with MT5SE Add-on, Accessed: 10 November 2018, 11:00 PM CET

Trade Forex & CFDs

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.