Gold takes off and DAX at the crossroads
Gold takes off and DAX at the crossroads
The sabres rattle on the rushing Dnieper. This is the name of the largest river in Ukraine. 2.201km long. Now you’ve read that too. Dnieper, smugglers, peasant catchers. What is actually being played? Putin is partially withdrawing his troops. Today there are again reports that Russia wants to test nuclear missiles.
Accordingly, there is still no calm or decision to be seen at the end of this week. The stock exchanges acknowledge this with clear ways. The indices are running down a bit – gold continues to rise.
In only 4 out of about 16 cases since 2020, such a buying exaggeration marked a high in the 4-hour chart. In this respect, we can assume that this alone will not be enough to slow down prices at present. To do this, the geopolitical situation would have to ease. Unfortunately, it does not (yet) look like that at the moment
DAX in Daily Chart
The price falls dynamically towards the first support shown in black at 15,000 points. This is the neck line of the relatively arranged bearish SKS formation for several weeks. The SKS is embedded in an existing sideways movement since April last year. Hence the addition “relatively arranged”.
At 14,800 points, the decisive support of the sideways correction phase since April 2021 awaits.If the DAX falls dynamically below 15,000 points, a first sell signal is created. If the index falls below 14,800 points on a daily closing price basis, this would activate a downward correction towards 13,545 points.
