A good day to zoom far out. Far too often we traders tend to zoom in and zoom in more. Lets do it the other way around today.
As for me a "V" shape rebound is out of the question. The fundamentals are just too bad.
Still remarkable is that we saw that rally up lately after the big dump. The DAX even made it above the trendline (only 2 points that support it but we take what we get).
Interesting to see that we closed exactly at a support from the huge head and shoulders formation (Dec 2016 to Dec 2018). It is also a fib line so we would expect it to be strong.
So this week could be important.
I will do a more zoomed in Idea later.
As for me a "V" shape rebound is out of the question. The fundamentals are just too bad.
Still remarkable is that we saw that rally up lately after the big dump. The DAX even made it above the trendline (only 2 points that support it but we take what we get).
Interesting to see that we closed exactly at a support from the huge head and shoulders formation (Dec 2016 to Dec 2018). It is also a fib line so we would expect it to be strong.
So this week could be important.
I will do a more zoomed in Idea later.