Dax 30 : 10250-10900 Range indicates next phase sell off to 79xx
Dax continues to trade inside the short term rectangular range (10250-10900) ,11000 area remains as the major resistance which is also the 50% Fib retracement level (13820 - 7965 sell off) .Price got squeezed inside the major EMA - Fib levels since a month backed by the Q1 earnings numbers + ECB's comments on the strong intervention to support the economy,though the decision is still being questioned by the court and demanded a justification . We have Banks and major Q1 earnings numbers upcoming + the German GDP to be out on Friday (negative forecast of course) . There might be volatile upside movements to the 11000 handle this week but breaking the resistance is unlikely ,eventually one more time a test to 7950-7750 level (in couple of months) is what i am expecting before any strong rally .
Trend : Range ( 10250-10900)
Resistance : 11000
Supports : 10250 (Short term Range bottom)
Trend : Range ( 10250-10900)
Resistance : 11000
Supports : 10250 (Short term Range bottom)
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