Will we see a rebound or a final selloff?

FX:GER30   DAX index of German listed shares
119 3 13
Update to my former analyis: Here we go: 10850! This is the new Level to watch!
With a Close higher than 10.850 we will perhaps see a Rebound to 11.030/11.090. (red "3?")
A Close under 10.850 (EMA 200) will generate a shortterm-target @ 10.400-10.600 or worst case 10.000.
-11.250 is the make or break-Level to watch: Prices higher than that Level will generate a target at the downtrenduppersid @ 11.450 (orange "3?")

Update to my former Analysis
The last shortterm-support @ 11250 turned into a resistance. 3 red days followed.
Yesterday i updated my analysis and answered jimmy_honkong, that a rebound back to the level @ 11250 would be possible. Today we saw huge buyers in the market and the dax             closed @ 11.265,39.

But what were the signals i saw to make me think that the index will get a rebound?

1. The downdrop ended exactly at his 38,2 Fibo-Retracement (8352-12405) @ 10.859 points.
2. The Dax             closed two days in a row out of his BB`s. Thats really unusual for the german main index. That signalized me, that the situation is very oversold and a rebound is possible.
3. The level @ 10860 is similar to the downside of the middleterm-downtrend

jimmy_honkongs 2. question: My second question is, why do you think it will stop at 11250 but not higher?

- 11.250 is similar to the 38,2 fibo-retracement of the downmove 11920-10861. This level is the minimal correction level. Now it is also possible, thet the correction wave will go further to the next higher fibo-levels 50% / 61,8%. The normal and maximal targets with this fibo-vies are @ 11391/11512.
The of the 61,8% fibo is similar to the longterm-up-trend and middle-term-down-trend.
If the Dax             could make prices higher than 11620, the long-term-trend will be en vogue again. Than the next target would be @ 11921.
IMO Dax             can`t break this level. My favorite target is on the daownside @ 1.0400-10.600

Former analysis: (
Ger             30 in the abyss

The long term trend since Oct             14 has to be discussed.
Dax             is close to his last shortterm- support at 11250. This is the level to watch. Prices higher than this Level will establish the Support and will turn the short-term situation into neutral -bullish. If 11250 turns into a restistance, he could drop to 10250-10500. This Level is similar to the Fibo 50.
Prices higher than 12.000 will turn the Chart into bullish .
Prices in the Tradingbox between 11250-12000 are neutral. sis:

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