BFCMInvest
Long

The Dax price is ready to fall ? not yet

XETR:DAX   DAX Index
The Dax price is testing the resistance at 11980 points. Technically it is very likely that this will be violated on the upside, making this very short-term uptrend continue until the next static resistance set at around 12170 points. From here the analysts expect a physiological retracement that should make the support area between the levels 11740 and 11530 points retested. This movement should end in a dozen sessions, so upon reaching the threshold 12170 we will recommend a short market entry with the first target on the static support set at 11740. This scenario is supported above all by the trend of the American index: even the short-term rallies, will undergo a drop that will also bring down European stock exchanges. The fundamentals support this immediate bullish phase, while in the medium term we will have to evaluate the decisions of the central banks when the minutes on their monetary policies will be published in the coming days. Being already positioned on the upside on the SP500 , we will not enter the market even on the German index, but we will position ourselves on it when we believe that the conditions for a descent have occurred.
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