DAX has managed to stay below 12900 resistance until now. The index had reversed from 12840/50 levels yesterday, and is seen to be trading lower around 12582 as we prepare to publish this short term update. The larger degree probable wave counts are suggesting that DAX might have carved Wave (1) and potential Wave (2) around 8200 and 12900 respectively. If the above counts hold, the indice should stay below 12900 mark and head lower towards 9000 and 8000, as Wave (3) progresses. Further, also note that a break below the counter trend line would be encouraging to bears as prices enter the sell zone. Overall, DAX structure remains bearish until prices stay below the 13800 resistance.
Strategy:
Short against 13800, targeting 8000 in the long run.
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 in the long run.
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.