We have presented the daily chart for DAX to display how the Head and Shoulder projected earlier is progressing well towards 10200/300 levels. Looking into the wave structure, the index could be working its wave (3) within the impulse wave or at least wave (C) lower. Please note that probability of an impulse remain higher since highs made at 13600 levels earlier. In the latter case, prices could drop lower all the way towards 8800 levels, which is wave ((4)) termination of a higher degree, going forward. For now, resistance stays intact around 12500 levels and until prices stay below that, bears could remain in control. A safe trading strategy could be to sell on rallies.
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This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.