dax forecast

Stock market performance today forecast Dax Index

Stock market performance today analysis and forecast Frankfurt Index in the short and long term through the Gann technique.

German stock market chart with technical picture

Stock Market Forecast Today: Weekly Dax Index

With the time cycle expiration of October 21, 2022, the Dax Index market confirmed the start of a new bullish phase.

Since the low reached by the German stock market in Sept. 30, 2022, on the octave static support at 11,862 points, two positive weeks followed whose returns were hampered by the next octave static resistance at 12,400 points.

With the expiration of the Weekly  Set Up just mentioned the trend had a strong positive autocorrelation of the yield, reaching at first 14,554 points, then 15,507 points, and lastly 16,521 points.

As can be seen from the picture above, all of these quoted quotations corresponded to from the octave static resistances, which generated a strong hurdle and partially weakened the up-trend.

The correction that had started on August 04, 2022 ended at the octave static support in the area of 14,800 in the week of October 27, 2023.

The weekly set ups that followed all confirmed the emergence of a new propulsive phase, which pushed the German stock market to new highs.

With the expiration of the Minimum Square on December 15, 2023, the Frankfurt Index reached a high at 17,003 points, only to lateralize in the following weeks to reach a low at 16,345 in the week of January 19.

The last expiring time signal coincides with this week of Feb. 02, 2024.

For prices above 17,000 points positive short directionality will be confirmed with first targets 17,230; 17,390.

A return below the level of 16,570 will indicate a return to short-term weakness, a negative laterality: supports in the area 16,520; 16,320.

Stock market performance today: monthly trend

The Frankfurt Index in conjunction with the expiration of the Maximum Square in September 2022 reached the 1X4 ascending angle radiated in purple at 11,862 points.

At that juncture, the German stock market generated a new medium-term upward push that is still ongoing.

The first movement from September 2022 to July 2023 brought the Dax Index back to the top of the bullish corridor outlined by the yellow ascending 1X2 vectors.

The downward movement in the two months of September and October 2023 was blocked precisely by the median vectors of the channel at 14,630.

In fact in November 2023, which coincided with a new Square of Maximum, the German Index started to rise again and also broke the octave static resistances that had held it back in the previous period of July August 2023.

The last monthly signal expired last December, while the next one will expire in March 2024.

The bullish trend will have the area of 17,785; 18,240 as its next resistances.

Only reaching the level of 16,250 points will the German market generate a new negative lateral phase: next supports in the 15,800 area.

Frankfurt stock exchange in the long term

The long-term bullish trend is well described by the quarterly ascending channel.

In the first quarter of 2024, Dax Index prices reached the median line of the corridor for the fourth time and is about to break it.

Next resistances area of 17,750; 18,530.

Only the negation of the bullish out-side of the last quarter 2023 may indicate a new reversal of the quarterly trend.

Next supports area 16,480; 15,450.

The article on the German stock market trend was compiled through the use of the Gann technique and Top Trader(c) stock market software.