DAX30 Where could we start buying?
I have published my longterm DAX forecast 8 months ago. SHS pattern has not worked as I anticipated. However, another SHS pattern completed later. My target was 10.400 and we have reached the target.- see attached forecasts-
The global sell-off continues on equities, stocks, indices and commodities.
The megatrend has been broken on DAX30 Index.
Issues like global growth concerns, trade war, political turmoil in Eurozone keep DAX30 Index under selling pressure.
I do not see any reason for buying the DAX30 Index at the current level. Closing above 11.800 can be used a buying opportunity.
The Index is likely to test 10.000 support. A break below would send the pair 97500 Fib 78.6 and 9.350 Fib 88.6 retracement of the initial bullish leg.
9.750 - 9.350 interval can be used as a buying opportunity.
I will update for the members as soon as I get a clear entry signal.
The global sell-off continues on equities, stocks, indices and commodities.
The megatrend has been broken on DAX30 Index.
Issues like global growth concerns, trade war, political turmoil in Eurozone keep DAX30 Index under selling pressure.
I do not see any reason for buying the DAX30 Index at the current level. Closing above 11.800 can be used a buying opportunity.
The Index is likely to test 10.000 support. A break below would send the pair 97500 Fib 78.6 and 9.350 Fib 88.6 retracement of the initial bullish leg.
9.750 - 9.350 interval can be used as a buying opportunity.
I will update for the members as soon as I get a clear entry signal.
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