KQMarkets

Dax - Short After Double Top Formation

Short
XETR:DAX   DAX Index
We have changed our view from long to short as the Dax twice failed to consolidate above key resistance towards 11300 and formed a double top . This is a bearish signal and we feel the renewed US and China trade tensions in conjunction with the continued impact of the coronavirus on the global economy would weight heavily on the index in the coming trading sessions.