DAX: 2015 was a turbulent year

A turbulent year is coming to an end. Nevertheless 2015 was a successful year.

Source: Bloomberg

But the investors are still waiting for the technical trend reversal.

Currently the DAX is trading above the upper trend line of the downside trend channel at 10,770 and the falling 200 days weighted moving average (WMA) at 10,730. A closing price on weekly basis would be necessary.

In this case the German Blue Chips could continue the upward movement in the direction to the psychological level at 11,000. Afterwards the former mid-term upward trend line at 11,770 would be the next technical target.

Without a closing price above the mentioned resistances the risk of falling prices would be high. Possible targets are the second mid-term upward trend at 10,230 and the psychological level at 10,000. 

German stock market DAX on weekly basis

Source: IG charts

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