03 JAN DAX daily analyses
Morning folks,
We open up in a very bulliish enviroment. The sideway patterns of the last day's of 2016 clearly where consolidation liki I explained in the tradingroom during the day.This means we now can proceed perfectly with the setup we had in mind before the yearend. But that does not mean we cannot dip first ofcourse. Keep that in mind. On a technical level this means we can see us retest 11500 fist, then bounce and break 11600, with as next targets 11700 and 11800. From here on we could see possible top formation that can start a normal correction. But we will have to evaluate that once we are there. Markets are to complex and have to much bullish momentum to predict a top in advance. Daytraders can trade short at the start but take profist fast. After that only long on the dips.
We open up in a very bulliish enviroment. The sideway patterns of the last day's of 2016 clearly where consolidation liki I explained in the tradingroom during the day.This means we now can proceed perfectly with the setup we had in mind before the yearend. But that does not mean we cannot dip first ofcourse. Keep that in mind. On a technical level this means we can see us retest 11500 fist, then bounce and break 11600, with as next targets 11700 and 11800. From here on we could see possible top formation that can start a normal correction. But we will have to evaluate that once we are there. Markets are to complex and have to much bullish momentum to predict a top in advance. Daytraders can trade short at the start but take profist fast. After that only long on the dips.
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