DAX30 Running Out Of Steam
The german stock index DAX30 is running out of steam after a 600 point climb in October. Not surprisingly it needs a break, which makes a pullback scenario likely.
I don't believe there is enough juice left in the market in order to let the DAX30 break the current horizontal resistance as well as the upper border of the downtrend channel. A short pullback towards 10100/200 would motivate some more buyers to jump back into the game and maybe start the expected 'year end rallye' at the end of November.
I have posted a more detailed analysis on my website. Feel free to comment this analysis. Thanks!
I don't believe there is enough juice left in the market in order to let the DAX30 break the current horizontal resistance as well as the upper border of the downtrend channel. A short pullback towards 10100/200 would motivate some more buyers to jump back into the game and maybe start the expected 'year end rallye' at the end of November.
I have posted a more detailed analysis on my website. Feel free to comment this analysis. Thanks!
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.