Isn`t it a nice shortterm Buying-Candle?

FX:GER30   DAX index of German listed shares
299 5 9
Today we have seen a long wick till 10.800 - the market closed 175 points higher but below the ema&sma 200! It´s a very dangerous situation! A close under these moving averages is able to initiate a sellout, because many market participants put their stopps near that level. !!!
The today`s candle has a bullish character. I think the rebound can reach till its 61,8 fibo retracement @ 11.300. Moreover that is the actual maximum range of the Bollinger upper band. On its way up 11130 is a strong resistance.
Have we seen the LOW?
Nice view, i agree.
The channel is broken and this means more down but dax could still go up even the top of the channel before. No clear situation but i'm seeing the same level 11300 that will still close an open gap
MaryJane mamqua
As Long as Dax is trading below 10.990, a new Low @ 10825-10.800 is thinkable.
Above 11.040 you can assume, that no further lows will appear. This would open the possibility to increase to the Level 11.150-11.300
Trading below 10.650 will initiate a selloff to 10.250/10.065 - the summerrally would than be obsolete
10818 POSS RIGHT SHOULDER started the year well so should finish well so hopefully the start to a strong year end
MaryJane philswanson
like :-)
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