Weekly chart:
The big picture is showing a valid uptrend with a correction zone between 10127 points and 9216 points. Last week the price bounced upwards directly off the lower end of this correction zone, but this week it is showing weakness again. It seems as if the DAX wants to break this trend.
Daily chart:
In this time frame we see two trends. On the one hand, the primary trend with the last point two at 9317 points and a correction zone between 11029 and 11673 points. On the other hand, embedded into this, there is a subordinate downtrend with its last point two at 9251 points and a correction zone between 9667 and 10165 points. In this correction zone, passing by very steeply, we also have the 20 SMA, which the price is considerably pushing downwards right now. Here, too, a continuation of the trend seems very likely.
Hourly chart:
The trends in the hourly chart have been alternating very rapidly in the last few days. We currently have an intact downtrend again with a correction zone between 9630 and 9792 points. Since this trend is going in the direction of the primary trend, there may be a nice short chance here.
I hope you will remain favorably disposed towards me and always remember: the journey is the reward!
All the best
Markus Gabel
Head of Sales/Trading
AgenaTrader/TradeEscort
AgenaTrader Trading Software
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