DAX – New year, new luck?

The index is currently trading at just under 20,000 points. It is in an intact uptrend. Our main scenario foresees an increase into the open price gap to around 20,200 points, with another brief setback more likely. After that, we see a rise to new all-time highs.

Only a drop below 19,400 points would neutralize the chart picture in the short term and the focus would shift to testing the major breakout level at 19,000 points. At the latest here, there should be a clear surplus of buyers.

If the index falls below 18,800 points, the bulls have had it for the time being. The primary horizontal support and the 200-day moving average are in this area. Below that would be bear territory for the time being.

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