#DAX - 2 Jan
I gave a short from 16803 on Friday to 16721 (tradingview.com/chart/DE30EUR/kuphYIqD-DAX-29122023/). 16803 was traded, highs at 16811 before it tanked to 16723 and it rallied back to the highs.
The sell down was tied to the down move in US indices before the recovery. DAX was relatively strongly.
Overall, price action is bullish for monthly, weekly, daily IMO. Currently DAX gapped up and is testing above resistance. Despite the down move on Friday, overall price action is still bullish, trend is still up, thus looking for further upside. 16775, confluence of levels will be a good level to look for longs, targeting 16865 and 16905.
The sell down was tied to the down move in US indices before the recovery. DAX was relatively strongly.
Overall, price action is bullish for monthly, weekly, daily IMO. Currently DAX gapped up and is testing above resistance. Despite the down move on Friday, overall price action is still bullish, trend is still up, thus looking for further upside. 16775, confluence of levels will be a good level to look for longs, targeting 16865 and 16905.
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