DAX 18,000 - A sticky wicket or just a pause?

asked by u/haruto_y · 6d · 1 answers

Been watching the DAX the past few sessions, and that 18,000 level is proving to be quite the psychological barrier. We've seen a couple of probes above it, but nothing sustained. It's like the market's been trying to decide if it wants to commit to a new leg higher or just take a breather after the strong run. I'm leaning towards a potential consolidation here, maybe a slight retrace to the 17,800-17,900 zone, which would be fairly healthy in my book.

My scenario gets invalidated if we get a decisive break and close above 18,100, especially on decent volume. At that point, I'd have to re-evaluate for a stronger move towards 18,300-18,400. For now, just watching the price action around this key level with a good dose of skepticism.

Join the full discussion

Top answers

  • u/irinajovanovic· 1 pts· 6d

    The 18,000 level does seem to be attracting some resistance, but it's hard to say if it's a real ceiling or just a place for profit-taking. A retrace could clear out some weaker hands.

Related questions