Update of DAX analysis: index is still moving whithin a bearish channel. The last bounce off the channel has developed has a double bottom with a target around the 11800. The index is struggling with making it through the 11625 resistance line.
I have been neutral on DAX. The index may still fall to the 11200 mark which would be the target of the wedge formation of wave B. If we see the index at these levels I will consider buying. On the other end if the index makes it past the upper line of the bearish channel, it will be a strong signal inviting buyers to jump in.
I have been neutral on DAX. The index may still fall to the 11200 mark which would be the target of the wedge formation of wave B. If we see the index at these levels I will consider buying. On the other end if the index makes it past the upper line of the bearish channel, it will be a strong signal inviting buyers to jump in.