DAX - Bears are being reinforced

FX:GER30   DAX Index
Resistance - 9921, 9990, 10,112

Support - 9770, 9675, 9484

  • Prices are struggling to re-enter rising channel or rising trend line area, thus signalling bears may be getting reinforcements.
  • Drop to 9770 levels looks possible as that would mark completion of gap filling exercise (gap up opening on April 13th).
  • Short-bearish invalidation is seen only if prices see a daily close above larger falling trendline hurdle seen today at 9990.
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