YaKa

DAX Weekly Picture - My call: SHORT

Short
FX:GER30   DAX Index
253 views
3

Disclaimer:
Markets tend to go up - Acknowledged.
Here, participants widely expect a sovereign QE out of europe.
10,200 is resistance but breaking that would open to 11,000/11,600.

At the end of any rally, you have many supports on the way down that end up being broken.
Here, my view is QE in europe will not go down well (either wont happen or wont be well received).

Supports are:
9500
9110
8600
7235

My call: a large correction to 7200/7500 is in the brewer for the next few months.

Invalidation of that call: a close above 10300, which would keep me watching in amazement to 11,000

Comments

agree with the chart, now testing weekly ema55, which should hold at weekly close in order to stay in uptrend, (if not, then previous break above 9400 was meaningless/fake/trap and uptrend is over) and eustxx holding 2960

add support at 8200 fib channel, this fib channel is significant, the top was also at fib parallel of this channel at 10075

if 8200 /8150 last ATH broken, then 6000 target as longterm support

Reply
Well, you voice is heard :-)
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YaKa jangseohee
well 30pts is scalping noise on the DAX.. but every little helps:)
Reply
YaKa jangseohee
300pts - now we talk:)
Reply
lost 261 at close
Reply
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