christian.langfors

$DAX SHORT TERM PRICE GUESSTIMATE

FX:GER30   DAX index of German listed shares
117 2 3
This is my short term DAX             price action guesstimate.

RESISTANCE: 9330 & 9400
SUPPORT: 9200

9200 is quite obviously a super important support level for the short term! It might also hold if rebounds are not only short cover bounces but actually investors being bullish and loading up longs. IF however, the bounce is only or mostly short covers, we are SOL (Shit Out of Luck) and this will continue south.

Sofar this is a double bottom in play until proven otherwise I'd say. BUT if I had to guess, I'd guess on another wave down before DAX             bottoms mid term. But let's see what mr. Market is planning ahead.

GL and remember to use S/L!

Related Ideas

AamirAnsari
5 months ago
Hi nice chart. Are you predicting it will further go down to the level of 8800?
Reply
christian.langfors AamirAnsari
5 months ago
Hi, thank You! I have no clue to be honest; if 9200 breaks down, it might be very ugly (read massive panic sell that leads to margin calls and what not).

The ultimate price movement though, would be a re-test of the tops in 2000 and 2008 (that is 8000-ish) and then major rebound from that level. I think this week could tell better what to expect from the near future (i.e. what are the institutional investors thinking?). If we close this week and this month at this level, the monthly candlestick will be ugly. Compared to similar price action events, the next month(s) were not bull friendly.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out