DAX made huge bearish rotation yesterday, on European Market Session. and buyers strongly responded at 11050, which also a about a mid range and price of control (POC) of last week balance. The bearish rotation responded from 11300 area, which is also the the low of November'18 main value area, and also near its POC.
DAX made deep low extension, and Last night bullish rotational respond was very aggressive but gave up at about its mid range and below its morning session. I am thinking DAX still make ranging market with wider range extension, or slightly bearish. only break above 11400 area will keep the longterm bulls to hold or adding more position. overall the bears are still in control while bulls are very quick to throw their towel.
I recon we will still see more bearish power, with surprising short term bulls rotation. Weekly chart still bearish while bearish, while daily chart likely make an accumulation process.
DAX made deep low extension, and Last night bullish rotational respond was very aggressive but gave up at about its mid range and below its morning session. I am thinking DAX still make ranging market with wider range extension, or slightly bearish. only break above 11400 area will keep the longterm bulls to hold or adding more position. overall the bears are still in control while bulls are very quick to throw their towel.
I recon we will still see more bearish power, with surprising short term bulls rotation. Weekly chart still bearish while bearish, while daily chart likely make an accumulation process.
Trade active:
18 Jan'19 bar still a wall for the range. 8 Feb'19 bar confirmed the bottom of the range, after a strong bearish day but couldn't go any much lower on the following day. . I am still expecting big fish accumulating their buying position at 11050 or 10950 level.
for my short term trading I a will look at potential on price reversal at 11050 and above for bullish, or break out selling to meet 10950 support level.
for my short term trading I a will look at potential on price reversal at 11050 and above for bullish, or break out selling to meet 10950 support level.
Otherwise, the price will meet 10400 again, and this is not good for DAX. No sign of recovery in near time.
A lot of Analysis says that world economy is in recession time. Too many uncertainty from US, China and Europe. But I am seeing a different way. Asian stock is moving up too fast, Gold is back on the top of weekly roof. but European Equity market is in the bottom. Their business and economy are still good. I am not forgetting or ignoring about Brexit. But base on experience, the big player may buying on the discount price, while people scare so much about the news.
European economy is still good in my believe. well. let see.