GER30: During the last months we see a downtrend in this index GER30 and now a possible Pull Back!! What about Fib retracement. We can see that there is a retracement made back to the 38% and now moving down again. Technicaly could be our next goal the 127% line as possible profit target. What is your opinion? - Short on the trendline break?
Looking the weekly chart, we see that the longer term move is downwards. Also placing a band over the tops and the lows, we can see that the monthly pivots of April and March are still not hit. counting candles between the earlier points, it can take about 8 weeks before it hits the lower line. Lets cross fingers and simply wait for the ride.