DAX30 CFD bears have advantage on their side below 13,200 points
With the economic calendar being thin into the start of the week, today we will look at the DAX30 CFD from a technical perspective.
After the drop below 13,000 points in the first half of last week, the German index recovered slightly into the weekly close. However, the bears have the advantage on their side as long as we trade below 13,180/200 points.
Below that level, another attempt to sustainably break below 13,000 points stays on the table, while a drop below the pre-weekly lows around 12,930 points activates the region around 12,800/830 points.
On the other hand: if bulls can recapture 13,180/200 (a move that may be induced by new trade dispute optimism), a move up to and above 13,300 points is an option, erasing most of the losses from last Monday.
Ready to start trading the live markets? Then open a free account with Admiral Markets - 8,000+ instruments to choose from, some of the market's tightest typical spreads, and the world's #1 multi-asset trading platform.https://www.admiralmarkets.com/start-trading/
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
After the drop below 13,000 points in the first half of last week, the German index recovered slightly into the weekly close. However, the bears have the advantage on their side as long as we trade below 13,180/200 points.
Below that level, another attempt to sustainably break below 13,000 points stays on the table, while a drop below the pre-weekly lows around 12,930 points activates the region around 12,800/830 points.
On the other hand: if bulls can recapture 13,180/200 (a move that may be induced by new trade dispute optimism), a move up to and above 13,300 points is an option, erasing most of the losses from last Monday.
Ready to start trading the live markets? Then open a free account with Admiral Markets - 8,000+ instruments to choose from, some of the market's tightest typical spreads, and the world's #1 multi-asset trading platform.https://www.admiralmarkets.com/start-trading/
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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