With the last dump under several important supports, the DAX has definitely left its positive trend.
The next support - level is on ~10.600, where we find a fib retracement (38.2%).
This could also be the ending of the actual corrective wave -C-.
In this case we shall see some recover - but I don´t expect it to be very strong.
Meanwhile the support on ~10.600 has been strong enough to stop the fall.
As mentioned above a little recover is happening.
Don´t think that it´ll lead the Index much further than 11.200 (fib retracement 50%).
RSI has clearly shown the negative trend - and it´s still alive.
MACD is confirming the negative trend.
Projection:
in the next weeks a little consolidation can take part - not leading the index to new highs. On the contrary, I think this is only the beginning of a longer negative trend.
This is no trading advice
The next support - level is on ~10.600, where we find a fib retracement (38.2%).
This could also be the ending of the actual corrective wave -C-.
In this case we shall see some recover - but I don´t expect it to be very strong.
Meanwhile the support on ~10.600 has been strong enough to stop the fall.
As mentioned above a little recover is happening.
Don´t think that it´ll lead the Index much further than 11.200 (fib retracement 50%).
RSI has clearly shown the negative trend - and it´s still alive.
MACD is confirming the negative trend.
Projection:
in the next weeks a little consolidation can take part - not leading the index to new highs. On the contrary, I think this is only the beginning of a longer negative trend.
This is no trading advice