AbhishekHSinghCMT

DAX- Bleak times ahead with key level@10730

INDEX:DEU40   DAX PERFORMANCE-INDEX
4
(L-S)- Long First & Short Later

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

Primary Strategy
We should look for bearish 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.

Alternate Strategy
Look for any bullish opportunity only if we get a close above 10730- key level
Trade active: 13:56 Hrs 8th Nov2016

Last Price@10450's

Wow- for gap here in DAX index

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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