Been in a prolonged downtrend on the German Dax...world equities really, and it seems we began to bottom out here. We stopped making lower highs and lower lows.
We hit a support one and from there have gained some bids. Seems we got what appears to be a wedge/triangle break above a resistance zone on the 2 hour followed by higher highs and higher lows. A good risk vs reward trade.
Watching the 11920 zone as an interim target, and another zone at 12050 zone.
I still think central banks can cut rates and go back to QE/stimulus so markets can still remain propped...wall street can keep the party going a little longer.
We hit a support one and from there have gained some bids. Seems we got what appears to be a wedge/triangle break above a resistance zone on the 2 hour followed by higher highs and higher lows. A good risk vs reward trade.
Watching the 11920 zone as an interim target, and another zone at 12050 zone.
I still think central banks can cut rates and go back to QE/stimulus so markets can still remain propped...wall street can keep the party going a little longer.
