DAX Bears need to show they mean business!!
We have been monitoring this pitchfork in the DAX for years and is one of our key charts in our 2016 chart pack release, which you can get for FREE on our website (tradinglegion.com). Since 2009 we have seen instances were the over enthusiasm of the Bears has been met with a heavy handed response from the Bulls and the uptrend re-asserted. Will it be different this time? A break and consecutive weekly closes below the lower pitchfork boundary is a stark warning for the DAX Bulls, but a break and consecutive closes below 9300, marks the start of a cyclical bear market in a secular bull for the DAX. We are at a KEY inflection point in the DAX!
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