ON the escalating conflict in the Ukraine situation, the DAX shows negative direction consistent with the price action under the alligator wave and the downside RSI. In May the DAX price is testing the major support at 12,577.
The price is traveling lower than moving average (MA) and the MACD continues negative. The COVID lockdown action yields the negative impact on the China’s economy.
With the possible V-shape recovery, increased testing capacity and re-opening the business, the S&P 500 will continue to side way up as the price running above EMA 200 and positive upward trend. Happy weekend.
The signs of stabilizing pandemic and the positive Fed relieving package have been shown. The S&P cross the EMA 200 and positive MACD. V-shape recovery ahead. Be optimistic. Happy Easter Day.
