Trading Opportunities For FDAX, Dow Jones And Beiersdorf On August 23
Markus Gabel | Aug 23, 2016 08:47AM ET
FDAX:
The current correction from the daily chart can be seen in the small trend in the hourly chart by means of a downtrend. At the beginning of the week, the correction zone ran between 10546 and 10632 points. The opening was very weak, and we saw a 30-point down gap on Monday morning. At first it appeared to be a trend continuation, but at the start of the spot market, the buyers increased heftily and broke the trend. But then their strength ran out, meaning that no new trend was able to develop from out of the trend break. Quite the opposite – the DAX collapsed considerably after this, such that it currently looks like a downtrend will be formed once more.
Dow Jones 30:
In the US index, one can see the current uncertainty very well in the hourly chart. The trends are constantly and swiftly switching in the small trend size. The current trend is facing downwards once more, and the valid correction zone stretches between 18505 and 18577 points on the upper side. Despite the recurring attempts to continue the trend on downwards, it has so far not been possible. However, as long as there is no closing price above the red box, one has to assume that the downtrend can proceed at any time.
Beiersdorf:
Beiersdorf AG (DE:BEIG) is a leading international branded goods company that is active in the cosmetics sector and in the production of adhesive tapes. The company was founded with its headquarters in Hamburg, in the year 1882. Currently, this well-established company is able to assert itself pretty well in the market environment. From the perspective of the short-term hourly chart, we see a valid upward trend with a correction zone between €82.32 and €75 on the lower side. The price already came back into the green box some time ago, and was able to reach the last point two at €85.62, but not overcome it. That is why the green zone also remained intact. Now the price is once again on its way to this box, and the DowHow signals are appearing. As soon as the price has stabilised itself a little, one can consider a long trade.
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