empty
22.02.2022 12:05 AM
DAX index breaks below key horizontal support.

DAX index closed today below the 14,800 price level which was considered a key horizontal support level. This support level was tested over the past 11 months, more than three times and each time price respected the support. This price action has confirmed the importance o the support line.

This image is no longer relevant

Blue lines- bearish divergence

Red line -broken neckline support

The Dax Index is in a bearish short-term trend. Price has broken the horizontal support and has already warned traders with weekly bearish divergence signals. The RSI has provided us with these warnings at the beginning of the year. Now we find price almost 2,000 points lower. Current weekly chart points to the start of a bigger correction in DAX and price looks vulnerable to more downside. Most probable target is around 13,800 where we find the pre-pandemic highs which we believe will act as support now.

Summary
Urgency
Analytic
Alexandros Yfantis
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

July 25 Stock Market Update: S&P 500, NASDAQ pause after rally

As of July 25, US equity indices posted a mixed performance. The S&P 500 edged up by 0.07%, while the Nasdaq 100 gained 0.17%. The Dow Jones Industrial Average slipped

Jakub Novak 11:17 2025-07-25 UTC+2

Trump strikes deal with Japan — and other key headlines shaping your portfolio

Markets are bracing for a new wave of disruption: Trump seals a tariff deal with Japan, Apple dodges multimillion-dollar fines, Amazon challenges Meta and OpenAI, and AstraZeneca builds a pharma

Аlena Ivannitskaya 13:14 2025-07-23 UTC+2

Update on US stock market on July 23: SP500 and NASDAQ recoup all earlier losses

As of yesterday's close, US stock indices ended mixed. The S&P 500 rose by 0.06%, while the Nasdaq 100 fell by 0.39%. The industrial Dow Jones gained 0.40%. The record-breaking

Jakub Novak 09:27 2025-07-23 UTC+2

Update on US stock market on July 22. SP500 and NASDAQ sharply down

US stock indices closed mixed yesterday. The S&P 500 rose by 0.14%, and the Nasdaq 100 gained 0.38%. However, the industrial Dow Jones dipped by 0.04%. Today, Asian stocks declined

Jakub Novak 09:54 2025-07-22 UTC+2

High-profile elections in Japan and three important signals for traders

Markets are once again in a state of turbulence. The Japanese yen is fluctuating wildly following the political collapse of Prime Minister Shigeru Ishiba's coalition, which has deepened uncertainty

Аlena Ivannitskaya 12:43 2025-07-21 UTC+2

US stocks end week higher

S&P 500 Overview for July 21 The US market ended the week with gains Major US indices on Friday: Dow -0.3%, NASDAQ +0%, S&P 500 +0%, S&P 500 at 6,297

Jozef Kovach 09:30 2025-07-21 UTC+2

Update on US stock market on July 18. Investors overwhelmed by optimism. SP500 above 6,300

S&P500 Snapshot of major US stock indexes on Thursday Dow +0.5%, NASDAQ +0.7%, S&P 500 +0.5%, S&P 500 closed at 6,297, trading in a range of 5,900 to 6,400

Jozef Kovach 12:48 2025-07-18 UTC+2

Stock market on July 18: SP500 and NASDAQ continue their rally

As of yesterday, US stock indices closed higher. The S&P 500 rose by 0.54%, while the Nasdaq 100 added 0.75%. The industrial Dow Jones strengthened by 0.52%. Today

Jakub Novak 12:02 2025-07-18 UTC+2

Update on US stock market on July 17: key stock indices consolidating below their highs

S&P500 Snapshot of major US stock indices on Wednesday Dow +0.5%, NASDAQ +0.3%, S&P 500 +0.3%, S&P 500 closed at 6263, trading in a range of 5,900 to 6400

Jozef Kovach 13:03 2025-07-17 UTC+2

Stock market on July 17: SP500 and NASDAQ lifted by Powell speculation

As of yesterday, US stock indices closed higher. The S&P 500 rose by 0.32%, while the Nasdaq 100 added 0.25%. The industrial Dow Jones strengthened by 0.53%. The dollar also

Jakub Novak 12:28 2025-07-17 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.