DAX Weekly Forecast Analysis 3-7 Oct 2022

DAX Weekly Forecast Analysis 3-7 Oct 2022

We can see that currently the volatility is around 4.27% for this week, decrising from the 4.44% from the last week.
Currently there is around 18.2% that the asset is going to close either above or below the channel:
TOP 12483
BOT 11420

The current volatility percentile is around 90th, placing us in a very risky environment. With this situations in general the market moves:
AVG weekly bull candle = 1.73%
AVG weekly bear candle = 2.5%

With this mind, from the opening price it would situate us around
TOP 12150
BOT 11650

At the same time, there is currently a 35% that we will break the ath of previous weekly candle of 12410,
and there is a 66% that we will touch the low of the previous week of 11860


From the technical analysis point of view:
The majority of moving averages ranging from 10 to 200, are currently around 80% agreement that the market is in a bearish trend ( the current price is above those moving averages)
From the distribution of the candles, for this year we had 54% bearish weekly candles.


News that can affect the price of this asset this week:
- Tuesday 4 October : ECB Presdint Speaks
- Thursday 6 October : ECB Report
- Friday 7 October: EU Leaders Summit