Market Analysis of DAX 40 on Wednesday 23 August 2023

2023-08-23 12:30Fonte:BtcDana

DAX 40 TECHNICAL ANALYSIS SHORT TERM VIEW     

 DAX 40 has made irregular correction as marked by abc shown in graph so it can rally sharply above 16530 levels .Last wave c is already completed, it has maximum limit 14950 levels generally .Whole uptrend has important support 14677 to 15345 level and reversal point is 14677.Both the probabilities are suggesting buying with first stop loss 14900 for main target 16530 and final stop loss is 14600 for overall trend.Intraday it is looking for upside 15802 target then 15965 can come also.

 QUICK FUNDAMENTAL LOOK                                                                     

European equity markets rose on Tuesday, with the German DAX up 0.6% and the benchamrk Stoxx 600 up 0.7% driven by technology and mining stocks.

POC = Risk is a part of trading, use caution when placing orders and take market advice only into account.

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