DAX CMP 23800
I posted last week that the Index has reached its resistance. And why intermarket analysis is important. I am stating it again, we all move up and down together. Hence a buy or sell signal in our mkts should also be visible in others.
Gap- the rally could barely reach the gap zone and then failed.
Bar Analysis- three narrow bars at resistance is weakness. Its a sell signal.
Volume- huge volume at the bottom is telling me the bottom is still not in place. Hence this rally is a sell.
MA- the gap zone also has the slowest MA in black, making the zone a strong resistance.
Conclusion - I had mentioned that this negotiation will fail and it has. The sell signals are all over the place. This was pretty evident.
I posted last week that the Index has reached its resistance. And why intermarket analysis is important. I am stating it again, we all move up and down together. Hence a buy or sell signal in our mkts should also be visible in others.
Gap- the rally could barely reach the gap zone and then failed.
Bar Analysis- three narrow bars at resistance is weakness. Its a sell signal.
Volume- huge volume at the bottom is telling me the bottom is still not in place. Hence this rally is a sell.
MA- the gap zone also has the slowest MA in black, making the zone a strong resistance.
Conclusion - I had mentioned that this negotiation will fail and it has. The sell signals are all over the place. This was pretty evident.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.