Good morning traders and welcome to the German DAX30 Analysis. The DAX 30 is Bearish. Targets are 12050.
A break in the overheated short-term downtrend is to be expected soon, but it’s likely that price will dig into the high 11xxx’s first. The current bear market has already taken 1000 off the index. Another 300 points would represent a 10% correction on this major impulse wave.
If the sellers continue to outnumber their opponents, and convincingly break below 12000, then the next significant stabilisation zone is 11,725 / 11,870. It is heavily oversold and therefore we would likely see or expect a temporary bottoming.
German DAX30 Analysis – Political Turmoil Continues in Germany
The grand coalition continues to be on the edge after the recent meetings. In the bitter asylum dispute between the CDU and CSU there was no progress on Tuesday evening. Chancellor Angela Merkel (CDU) is now under pressure to reach a European resolution on the question of rejection of certain refugees at the German border at the EU summit on Thursday and Friday.
This is a major problem. The grand coalition at stake. SPD leader Nahles did not rule out a new election.
Kauder said in the ARD “morning magazine”, that there is still hope to find a solution (translated)
“As long as people talk and talk about the question: “what’s next?”, then there is still reason to hope that we come to a conclusion.”
It comes down to Merkel vs Seehofer.
Interior Minister Horst Seehofer (CSU), asylum seekers who have already been registered in another EU country, should be rejected at the German border. Merkel wants to promote Brussels for a “European solution” in refugee policy. Progress must be made soon before this turns into a deeper crisis.
27-06-2018 German DAX30 Analysis
27-06-2018 Dax Analysis
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