Dluginacci
Short

DAX30 Running Out Of Steam

FX:GER30   DAX Index
The german stock index DAX30             is running out of steam after a 600 point climb in October. Not surprisingly it needs a break, which makes a pullback scenario likely.

I don't believe there is enough juice left in the market in order to let the DAX30             break the current horizontal resistance as well as the upper border of the downtrend channel . A short pullback towards 10100/200 would motivate some more buyers to jump back into the game and maybe start the expected 'year end rallye' at the end of November.

I have posted a more detailed analysis on my website. Feel free to comment this analysis. Thanks!
If the euro keeps going down. DAX can only go up
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