The start of the year 2016 hasn't been good for the stock markets, at least not for them bulls. The European markets haven't yet opened "in fully" today and DAX is already below very important support (DAX fut. ~9970 at the time of writing).
Although I hate the term "oversold" but many indexes are at these "oversold" levels, thus not impossible to get a rebound in the very near future. The major charts though that I follow are bearish. Unless DAX manages to close this week above 10K, I think we "must" test low 9K levels to look for less selling and more buying pressure.
Although I hate the term "oversold" but many indexes are at these "oversold" levels, thus not impossible to get a rebound in the very near future. The major charts though that I follow are bearish. Unless DAX manages to close this week above 10K, I think we "must" test low 9K levels to look for less selling and more buying pressure.