The German DAX index for the third time has tested the bearish gap which has appeared in March. The price again retraces from that level, so the bears still may be active in this zone of potential resistance.
If the gap is defended we could expect another drop to the bullish gap from April. It is located near 9500 pts. The move above 11600 pts. may change the view from bearish to bullish.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
If the gap is defended we could expect another drop to the bullish gap from April. It is located near 9500 pts. The move above 11600 pts. may change the view from bearish to bullish.
Info: Conotoxia Ltd. with a revolutionary offer for clients trading on Indices - spread starting from 0.4 on selected Indices such as US500 or US100. On popular DAX, the spread is only 0.7 without any additional commission. This spectacular offer includes 11 CFDs on indices.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
