German 40 IndexShort
DAX: Watch 20100-20200 Resistance For A Sell-off
The German DAX is trading slowly for the last few days, here beneath the 20,000 level, which clearly acts as a strong resistance zone. However, I wouldn’t be surprised if more liquidations occur slightly higher, around the 20,100 mark. Because what I’m observing is a minor triangle within current recovery, and these patterns are typically in the middle of smaller trends. This suggests that we might still be missing one final leg in wave B to complete the recovery from December 20th low. After that, a strong bearish reversal could still show up on the DAX, possibly sometime this week.
Be prepared and aware of the potential for a deeper correction ahead.
GH
Be prepared and aware of the potential for a deeper correction ahead.
GH
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