Dax Frankfurt Index technical analysis forecasts 2019 May

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Dax Frankfurt Index technical analysis forecasts

Dax Frankfurt Index technical analysis forecasts using Gann’s time cycles

Dax Frankfurt index
Dax Index 2019 febbrary

Dax Frankfurt Index monthly technical analysis forecasts

Dax index began a progressive corrective phase in January 2018. At first the 1 X 1 dynamic support, which originated in February 2016, slowed down the negative acceleration attempt.

In fact, in April 2018, the German market performed a bullish pull-back, bringing back the prices to the highs of last year February.

Both the static octave resistance and the 1 X 2 dynamic descending angular resistance have rejected the Dax’s upward strength and, at the expiration of the Maximum Square time cycle in August 2018, the market restarted the medium term corrective phase.

Last October, November and December were negative months for the German Index, which reached the 1 X 2 angular supports with origin from the lows of March 2009 and September 2011. These supports form the bottom of a medium-long term upward corridor (yellow colored on the slide).

The concomitance of these supports with the expiry of the monthly Set Up of December 2018 and February 2019 resulted in an upward reversal of the trend.

Next dynamic resistances at 12.070. Only if prices break 11,830 share would arise a new medium-term negativity. The supports at the base of the corridor are in 10,800 area.

The vision of this ascending corridor is clear in the quarterly time frame.

Dax quarterly forecasts

forecast dax index
Dax Index quarterly 2019 febbrary

The 1 X 2 ascending corners (yellow colored on the slide) indicate the various supports and resistances in the medium-long term dynamics.

Currently the trend is still negative compared to the medium term. However, in the first quarter of this year a minimum square expires, that is significant in the quarterly dynamics.

The return of quotations above 12,425 will restore a long term positivity. Resistances at 12.750.

The report on the Dax index was illustrated through the Top Trader© free software.