Dax Report

Until 15,400 we only need to look for upside opportunities, so we will look for some retracements and optimal entry opportunities ( This scenario will be followed on our discord).

Upon reaching this level we can expect a more important correction that perhaps goes to fill volumetric gaps left this week before attacking the key level of the DAX i.e. 15,600. If, on the other hand, the correction is not that deep we can expect this to occur then from the key level (15,600)

Daily chart

Hourly chart

The German index after a strong structural break of the 15,600 level finally found a rebound zone (in the 14,700 aprox.) from where it rebounded heavily as the US indices did.

Now we are approaching an important level that can be used to manipulate and perhaps correct before pushing back upward toward its final target which would be 15,600 - the area broken earlier (green). From there we could then see a re-entry into the area or a new downward start. But now we need to keep an eye on 15,400.