$DAX Price seems to keep developing under the charm of the downsloping fork. Currently it's stuck at one of its parallels. Usually that's where the down trend should resume, but the demand side is not asleep.
View On German Stock Index (8 Oct 2021)
We have a strong bounce in the recent days and it has proven 15,000 level is a strong support.
So, it can drift up higher before it gets weaken again. I doubt it will start to get weaken by the time, it reaches 15,600 region.
Eventually, it shall go back down again.
DYODD, all the best and read the...
It's going to be interesting to see how the $DAX deals with the resitance coming from the prior highs and the downsloping median line parallel. This level also coincides with the weekly Tenkansen and Kijunsen, which makes it even harder to continue the rally. But for now the short-term trend remains bullish.
$DAX is following the downsloping fork, which, on a larger time frame, looks like a corrective wave, at least for now. Price may keep following the fork to the down side. However, a test of the higher Median Line parallel is also possible.
ger30 structure is similar to us30 one some I wont be explaining a lot on that I feel like us30 and nas100 will be okay, but ill give insights on ger30 just for this week, after that I wont be giving any.So I'm also neutral will depend what price does when it reach a certain level
With global stock markets seeing a over due correction, eyes are on GERM30 which is currently testing a key level of structure. The market looks to be in a distribution phase if we see a daily close below the 200 ema and the horizontal support we should see a much deeper correction than expected.
Prefer to look for potential short side move since price is already extended and caught in a consolidation.
Macro factors seem to be favouring the downside.
If there is a breakdown below intermediate support the next level down looks pretty clear being a 10% correction.