DAX Holding 18,000 – What's Next?
Watching the DAX closely this week. We've seen it bounce off the 18,000 level a few times now, which is starting to look like a fairly robust support. I'm not calling a bottom, but the rejection of further downside there is notable. If it holds, we could see a push back towards 18,200-18,300 in the short term. The invalidation for this scenario, in my view, would be a clear daily close below 17,950, which would suggest more downside pressure and possibly a retest of 17,800. It's a key psychological level, and the market seems to be taking it seriously for now.
While 18,000 has seen some action, relying on a few bounces for robust support seems a bit premature given the broader market. A push to 18,200-18,300 is possible, but without stronger conviction, it's just another range play.