DAX Index: Much more potential
Updated
A large reversal pattern (H&S shaped) has been completed with the recent break below ~12000 (cloud and internal trend line) and a full swing down trend is in progress. Focus is on 10150 (minor) and 9965 (first major projection). Below that 9475 and even 8465 come into play on a 12+ month horizon.
On the upside, prices should not rally above 12050 for the foreseeable future. Risk/reward remains excellent. We have full short-exposure (equities) divided equally between the DAX and AEX Amsterdam.
Near term trend: negative
Long term trend: negative
Outlook: huge long term reversal, negative
Strategy: hold-short / sell rallies
Support: 10150* / 9965* / 9475* / 8465*
Resistance: 12050 / 12335 / 12670
Outlook cancelled/neutralized above 12335
On the upside, prices should not rally above 12050 for the foreseeable future. Risk/reward remains excellent. We have full short-exposure (equities) divided equally between the DAX and AEX Amsterdam.
Near term trend: negative
Long term trend: negative
Outlook: huge long term reversal, negative
Strategy: hold-short / sell rallies
Support: 10150* / 9965* / 9475* / 8465*
Resistance: 12050 / 12335 / 12670
Outlook cancelled/neutralized above 12335
Note
Nearing 1st target....
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