themarketzone

DAX about to hit its first major resistance

FX:GER30   DAX index of German listed shares
As the Euro             Group leaders and Greece continue their game of "Chicken", today's morning price action indicates that investors are optimistic about possible deal between both sides.
Today's huge rally in $DAX is about to hit its first major resistance zone and potentially, sell zone for those who seek bearish opportunities towards today's news.
Trend line, 200 SMA line and Structure - 3 elements to monitor today and you can also add some small bearish AB=CD pattern to this bearish scenario.

1140-1150 is the resistance zone. A close below 1130 could be a confirmation signal for the possible reversal
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Tomer J,
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