German Dax is calling for a correction on monthly/weekly time-frames. Also with the upcoming french and german elections this year, I am expecting weakness/corrections in german dax for the coming weeks.
The DAX has clearly broken its March rally in April, with lower highs proof of growing sellers. The break through of the blue support line indicates a lack of buyers, and this morning it switched from support to resistance.
Today’s trading idea is coming from the German index- DAX. During the day it sold off down to the closest intraday support at 12075. Buyers supported the price and it shot up to over 12175. This left a daily bearish rejection on the chart of this index. The daily candle is a pin bar and it seems logical that the next move will be up. Based on today’s activity, my...
Very close to our forecast. If we stick to greenzone we long if we brake to red we short.
With the DAX inside the PRZ of a weekly pattern and DIA testing weekly resistance line - SPX is presenting its own bearish option with bearish Bat and trend line resistance
Daily forecast you can enter with hard volumes(indicator).
Possible movement of chart all is in the volumes hands!
So now we are going down till 11700/600 i think and than up one time. So look at your plan and good luck.
The German DAX slowly ascends the rising wedge which typically results in a downward breakout. We also see loss of momentum on the RSI. (Bearish Divergence) This could lead to a pullback before we may see a retest of April 2015 Highs. Trade your plan
This are my DAX Sell zones. I think that we cant go over 124xx+ thats why i will get some big short around 12400. For MidTerm its possible that we fall under 12000 to 11930 (possible are 11835 and 11483 to). For ShortTerm you can look my current analyse.
Bad data from Germany, could drop the index, tomorrow the most important data is German Industrial Production (MoM) (Jan)
Started correction on dax with a negative open gap and in addition a negative RSI. Strong correction from a very high point. First TP is 1/3 FIB
There is still an open gap on the dax which must be closed. The mid trend shows the movement. RSI is still Negative which indicates a correction coming up. MA100 is also far.