The DAX is back on track

At the beginning of April the German stock market started a downward correction. 

Due to a successful test of the Fibonacci-Retracement at 9220 the consolidation is now finished. The DAX has recaptured some important supports.  

The DAX is now trading above the Fibonacci-Levels at 9315, 9411 and 9530, the upper trend channel line at 9365, the increasing moving average (weighted 200 days) and finally the trend line at 9425.

The German stock market is now again in an upward trend. The next target prices are the highs at 9792/9795. Above this level the DAX would generate new buy signals on all time zones (daily, weekly and monthly). In this case the German Blue Chips might achieve the psychologically significant price level at 10,000. 

IG Charts

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