The German leading index charged through a daily trend today fueled by the escalating news from Turkey.
As you can see we're closing in on the trend line that was formed in 2016 after the "15-16 sell-off".
With the 10 day RSI indicating "oversold" a rebound to the previous trend line (12350) is a possibility after which I'm expecting another down turn and breaking the 2016 trend.
Another possibility is that the DAX keeps on steaming through and breaking the trend in one go.
Once it manages to break I expect the support at around 11850 to hold it's ground.
If it looks like the 11850 support is gonna break as well I'm gonna have to follow up on this post with new targets/possibility's.
Keep in mind we're living in interesting times with the " Trade wars" and "Future crisis" looming around every corner.
P.S. I'm not telling you what to do always cross reference with you're own analysis. I'm not responsible for your loss.
P.P.S Any thoughts/feedback is always appreciated!
As you can see we're closing in on the trend line that was formed in 2016 after the "15-16 sell-off".
With the 10 day RSI indicating "oversold" a rebound to the previous trend line (12350) is a possibility after which I'm expecting another down turn and breaking the 2016 trend.
Another possibility is that the DAX keeps on steaming through and breaking the trend in one go.
Once it manages to break I expect the support at around 11850 to hold it's ground.
If it looks like the 11850 support is gonna break as well I'm gonna have to follow up on this post with new targets/possibility's.
Keep in mind we're living in interesting times with the " Trade wars" and "Future crisis" looming around every corner.
P.S. I'm not telling you what to do always cross reference with you're own analysis. I'm not responsible for your loss.
P.P.S Any thoughts/feedback is always appreciated!