Dax index has reached a critical confluence support area
medium term, made up of a trendline going back to oct 2014
the Yearly R2 and the lower Kumo Cloud band. Perhaps there
will be another leg down to confirm the trendline test (as well
as the R2). It will be a natural place for bulls to step in again
and bear speculators to take profit off the drop.
Another leg down with a spike to test the Monthly S1 around
11000, would be ideal from a technical point of view, to look
for an long entry. A daily close below the Kumo Cloud, however
will give a Bearish Kumo Break Signal, for short entry.
A close below the Monthly S1, will be an additional confirmation
in a bearish set up.
medium term, made up of a trendline going back to oct 2014
the Yearly R2 and the lower Kumo Cloud band. Perhaps there
will be another leg down to confirm the trendline test (as well
as the R2). It will be a natural place for bulls to step in again
and bear speculators to take profit off the drop.
Another leg down with a spike to test the Monthly S1 around
11000, would be ideal from a technical point of view, to look
for an long entry. A daily close below the Kumo Cloud, however
will give a Bearish Kumo Break Signal, for short entry.
A close below the Monthly S1, will be an additional confirmation
in a bearish set up.