DAX is still forming a bearish wedge. If the DAX breaks below the 15,650 we might see a small sell-off till: 15,450.
Additional pressure might arise from the weekly RSI, we are slowly leaving the overbought area and moving below 70.
The SMA 55 just crossed the white line and the market might want to test if the break-out can be confirmed. This would take us towards: 14,850.
As long as we are in the bearish wedge I am not getting bullish.
Additional pressure might arise from the weekly RSI, we are slowly leaving the overbought area and moving below 70.
The SMA 55 just crossed the white line and the market might want to test if the break-out can be confirmed. This would take us towards: 14,850.
As long as we are in the bearish wedge I am not getting bullish.
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The weekly chart. Lot's of volume since April, swings of 4-5% and only 2% up.
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First target of 15,450 reached.
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For the time beeing I am flat. 275 points.
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Pretty oversold in the 4H; which could provide a short term long trading opportunity.