FX:GER30 DAX index of German listed shares
I expect a recovery mode upswing here, conservative traders wait for more base building signs.
If there is a bounce, I think you are correct with your assessment of support. However, more weakness could indicate continued downside price action for the DAX. I am more inclined to sell the rallies, although I would consider countertrend longs, half size position in to possible resistance. If this is true support it would make sense since price is at former channel resistance, backtesting it as support would be normal. Weekly view for the DAXIf there is a short trade, imo, could be around the the 200 ema.