It has been over four months since we last wrote about the German DAX 30. The blue chip index was trading around 12 700 following a sharp selloff from as high as 13 602
Dax seems to have topped out on bearish MACD Divergence. Watch supports drawn on the charts.
DAX- index can march toward 12500-12300 new negated
DAX LOOKING WEEK N BEARISH TOO WATCH OUT / HEADING TOWARDS SUPPORT ZONE ...
* Wyckoff Analysis * Distribution Phase * Doji @ top #Invalid above 12050
Among the Major European indices-DAX is an important one -seems to put a top @11890's & why we should be careful- as I always kept telling Jan-Feb2017-be careful. Do not get trapped in Euphoria otherwise you will be hit hard & do not close your eyes to the real picture. DAX - an ABC structure almost done & expected in last update - "The Last Bulls Capsule from...
DAX- Since Feb2016 lows@8699 is a complicated move ABC on a larger degree& when this gets over- we reach back to bottom@8699-obviously -it will never fall straight-as we all know that financial instruments never move in a straight line. So, its a nested structure till the time 11400 is intact downside. Any pullback on account of Mr. Trump's joining office 20th...
As expected the push in ii- wave- the bounce from the zone 10180-10212 was rock solid, but small issue as my key level@10730 has been broken on top so likely I will wait for the market to show me its direction further- which I will be searching on the downside. So, Let us wait for further clues from the market.
(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...