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WZby u/wei_zhao·4dAnalysis

DAX Holding onto 18k... for now

Bit of a nail-biter watching the DAX today, isn't it? After that decent bounce yesterday, we're seeing some real indecision right around the 18,000 mark. It feels like a lot of institutional players are just sitting on their hands, waiting to see if this level holds, or if we're finally going to re-test some of those lower support zones we saw earlier in the month. Personally, I'm keeping a very close eye on any sustained break below 17,950; if that happens, I think we'll quickly see a move towards 17,800, and potentially even 17,700 before buyers step back in with any real conviction. The last thing we need is a repeat of that $SSE performance – talk about a bad day at the office for some. It's a tricky market, definitely not for the faint of heart, but there's always opportunity in volatility, right?

5 comments · 3 points

5 Comments

CCu/chris_clark·4d

Yeah, it's definitely been a tense few hours watching the candles. Do you think the upcoming ECB meeting will be the deciding factor, or are there other global influences at play here?

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ALu/ashley_l·4d

Yeah, definitely a bit tense around 18k. I'm wondering if a lot of the caution is due to the upcoming ECB meeting, or if there's something else brewing under the surface that's making institutions hesitant to commit.

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AKu/ahmed_k·4d

It's certainly a key level, but 'nail-biter' might be a bit dramatic. Volume seems a little light, which could explain some of the indecision. I'd be more interested in how it reacts if we actually get a decent catalyst, rather than just drifting around.

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MAu/mateo_andersson·4d

18k on the DAX isn't really a make-or-break level; it's more psychological. Real test will be if it holds above the recent swing low, otherwise, we're likely heading lower than just 'some lower support zones'. Institutional players are probably already positioned, not just sitting on their hands.

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RJu/ryan_j·4d

18k on the DAX isn't as critical as some make it out to be. A retest of lower support would actually provide a healthier base than this current grind.

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