DAX30 CFD bears have the advantage on their side below 13,200 points
Source: Economic Events 09 December 2019 - Admiral Markets' Forex Calendar
With the economic calendar being thin into the start of the week, today we will look at the DAX30 CFD from a technical perspective.
After the drop below 13,000 points in the first half of last week, the German index recovered slightly into the weekly close. However, the bears have the advantage on their side as long as we trade below 13,180/200 points.
Below that level, another attempt to sustainably break below 13,000 points stays on the table, while a drop below the pre-weekly lows around 12,930 points activates the region around 12,800/830 points.
On the other hand: if bulls can recapture 13,180/200 (a move that may be induced by new trade dispute optimism), a move up to and above 13,300 points is an option, erasing most of the losses from last Monday.
Source: Admiral Markets MT5 with MT5SE Add-on DAX30 CFD Hourly chart (between 19 November 2019 to 06 December 2019). Accessed: 06 December 2019 at 10:00 PM GMT
Source: Admiral Markets MT5 with MT5SE Add-on DAX30 CFD Daily chart (between 30 August 2018 to 06 December 2019). Accessed: 06 December 2019 at 10:00 PM GMT
Please note: Past performance is not a reliable indicator of future results, or future performance.
In 2014, the value of the DAX30 CFD increased by 2.65%, in 2015, it increased by 9.56%, in 2016 it increased by 6.87%, in 2017 it increased by 12.51%, in 2018 it fell by 18.26%, meaning that after five years, it was up by 10.5%.
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