German 40 IndexLong
GER40 the trend is still Bullish
Updated
**Monthly Chart**
Last month candle dropped lower after creating a record high around 18568.8 level. This drop was due to a large selloff around the record high. However, this month the price continued higher and created a new record high just shy of 19000 level which indicates continues of the bullish long-term directional bias.
**Weekly Chart**
Last two weeks candles closed as dojis which shows a loss of momentum around the high. It will require a large liquidity to push the price higher. Therefore, any retracement or correction will encourage buyers to continue the move.
**Daily Chart**
There are two scenarios on the daily chart, GER40 price might continue higher without retracements and bush higher before changing the trend or the price will have a deeper retracement and then bush higher and grap the liquidity that formed above the new record high. Either way, I am only interested in buying the retracement. The direction is still bullish and there is no indication yet to move lower.
Last month candle dropped lower after creating a record high around 18568.8 level. This drop was due to a large selloff around the record high. However, this month the price continued higher and created a new record high just shy of 19000 level which indicates continues of the bullish long-term directional bias.
**Weekly Chart**
Last two weeks candles closed as dojis which shows a loss of momentum around the high. It will require a large liquidity to push the price higher. Therefore, any retracement or correction will encourage buyers to continue the move.
**Daily Chart**
There are two scenarios on the daily chart, GER40 price might continue higher without retracements and bush higher before changing the trend or the price will have a deeper retracement and then bush higher and grap the liquidity that formed above the new record high. Either way, I am only interested in buying the retracement. The direction is still bullish and there is no indication yet to move lower.
Note
It has one more bush to the upside
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