As the price level pulled back into bullish territory, May candle found resistance at the 50SMA on monthly chart and closed below the 61.8%. That is strong resistance.
So far, as economies in Europe reopen, we still look on the bullish side for now, but need the break of 50SMA for more confirmation.
ECB rate announced on Thursday will shed more light on the QE measures and show us more direction for the index.
1 hour time frame (see below) shows potential to pull back to 11200 territory.
Increased riots in USA and fear of similar situation in Europe puts pressure, so EU and UK governments are expected to bolster public morale.
Please support the idea and share your thoughts on DAX!
Good Luck and Stay Healthy!
So far, as economies in Europe reopen, we still look on the bullish side for now, but need the break of 50SMA for more confirmation.
ECB rate announced on Thursday will shed more light on the QE measures and show us more direction for the index.
1 hour time frame (see below) shows potential to pull back to 11200 territory.
Increased riots in USA and fear of similar situation in Europe puts pressure, so EU and UK governments are expected to bolster public morale.
Please support the idea and share your thoughts on DAX!
Good Luck and Stay Healthy!
Comment:
Looks like a H&S pattern, but expecting a gap since tomorrow is bank holiday.