DAX spot chart is shown here, which is closed around 12800 mark. Futures had staged a rally yesterday in the New York session, towards 12870 levels before reversing lower again. It was interesting to see that the indice futures held below critical resistance at 12920 levels, the June 08 highs. The indice had earlier dropped from 13800 through sub 8200 levels sub-dividing into 5 waves, labelled as Wave (1). The subsequent counter trend rally extended up to 12920 levels, potential Wave (2) termination. If the above larger degree counts hold well, DAX should stay below 12920 mark and proceed lower towards 8000 levels, going forward.
Strategy:
Short against 13800, targeting 8000 levels.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Short against 13800, targeting 8000 levels.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.