The fall of 10730 was impulsive & almost came close to prior swing low@10190. Recent Low was 10212- Likely looking for a push upside on account of U.S. Elections -which could be short lived, so if DAX fails to cross 10730 or go close to that end- looking at all possibilities, we should avoid taking any long positions in the zone 10500-10730- rather plan to exit markets.
In all scenario- Nov-Dec 2016 could be bleak for European markets. Going into year 2017- first few months shall be better, but ultimately- it should continue down
We should look for opportunities if we get the index in the range 10500-10700 with key resistance at 10730- This view gets invalidated if DAX crosses 10730 highs.
Look for any opportunity only if we get a close above 10730- key level
Wow- for gap here in DAX index
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ