christian.langfors
Long

DAX STRONG REBOUND

INDEX:DAX   DAX Stock Index
58 1 2
DAX             rebound continues today. Sofar the rebound seems quite strong and I'm guessing that trapped shorts are fueling the rally. We might continue a bit over 10K to knock some puts and what not. Also on shorter time frames, price action reminds of rounded bottom. Not unlikely that we bottomed but time will tell (gut feeling says that this is not yet over though.. October historically very volatile month!)

Shorting negative divergences / momentum weakness probably good risk:reward (if you know how-to use stop/loss correctly!)

Bullish as long as MA20 on 60min time frame is heading north. Neutral or bearish below 9 600, bulls heads up if ~9 300 is taken out!
MA50 on daily time frame next resistance/target
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