DAX30 CFD range-bound between 13100-13300, with a bullish touch
The DAX30 CFD was range-bound again last week, and since we have a thin economic calendar this Monday, we have to see whether we get to see a serious attack of the DAX30 CFD to break out of its range.
The relevant levels can still be found around 13,100 points on the downside, and 13,300 points on the upside and, and this is where our focus will be.
While the short-term mode can be considered neutral, the longer time-frame picture can be seen bullish with a break out of the range above 13,300 points having an overall higher likelihood in our opinion.
Besides the technical side, the thin economic calendar in addition to market participants keep adding to their overall extended volatility short-position add up tour bullish bias.
Above 13,300 points, the first target can be found around 13,500 points, while in the event of a (surprise) breakout of the trading range on the downside, and a drop below 13,100 points, the next target can be found around 12,970 / 13,000 points.
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Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The relevant levels can still be found around 13,100 points on the downside, and 13,300 points on the upside and, and this is where our focus will be.
While the short-term mode can be considered neutral, the longer time-frame picture can be seen bullish with a break out of the range above 13,300 points having an overall higher likelihood in our opinion.
Besides the technical side, the thin economic calendar in addition to market participants keep adding to their overall extended volatility short-position add up tour bullish bias.
Above 13,300 points, the first target can be found around 13,500 points, while in the event of a (surprise) breakout of the trading range on the downside, and a drop below 13,100 points, the next target can be found around 12,970 / 13,000 points.
Ready to take your trading to the next level? Find out how in Admiral Markets’ new webinar series Trading Spotlight, where our trading experts will be discussing risk management, trading psychology, and their top strategies for trading the world’s most popular markets - admiralmarkets.com/education/webinars/trading-spotlight-1
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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