DAX / GER40 - LONGS ALL DAYDAX/GER40 - Gave longs al day from start of the sessions…. Here you can see 3 trades - all three trades made 1:3RR based on 15min entry and SL rules with TP at 1:3RR Look at previous posts for Entry - SL and TP placement rules. Longby InForMe_Analysts0
Weekly technical analysisStart your week by identifying the key price levels and trends. The SpreadEx Research team has analysed the most popular markets, including stocks, indices, commodities & forex. *KEY Trend direction is set by the slope of the VWAP Trend phase is determined by the current price relative to the VWAP (20) level Support & Resistance are set by the StdDev #2 Lower and Upper respectively. ---------------------------------------------------------------------------------------------------------------------- Analysis Germany 40 remains inside a tight sideways consolidation of its broader bullish trend, with the price increasing to 18,256, now below the VWAP of 18,342. Support and resistance levels have adjusted to 17,901 and 18,783, respectively. The RSI has increased to 46, indicating a moderation in upside momentum compared to the previous report. UK 100 remains in the consolidation phase of a bullish trend, with the price increasing towards the June lows, and still below the VWAP of 8,275. Support has adjusted to 8,117, while resistance has increased to 8,280. The RSI has increased to 54, reflecting a strengthening in momentum compared to the previous report. Wall Street has made significant upside progress in the past 3 months - moving into a bullish consolidation phase, with the price recently increasing to 39,247, now above the VWAP of 38,755. Support and resistance levels have adjusted to 38,340 and 39,170, respectively. The RSI has increased to 60, signalling a rise in bullish momentum compared to the previous report. Brent Crude has transitioned into a bullish trend and continues in a corrective phase, with the price increasing to 84.62, now above the VWAP of 81.79. Support has adjusted lower to 76.84, while resistance has increased to 84.62. The RSI has increased to 60, indicating a strengthening of bullish momentum compared to the previous report. Gold remains in a bullish trend trading sideways in a neutral consolidation since topping in mid-April, with the price recently increasing to 2,330, now around the previous VWAP of 2,329. Support has adjusted higher to 2,284, while resistance has decreased to 2,369. The RSI has increased to 49, indicating a moderation of bearish momentum compared to the previous report. EUR/USD remains broadly trendless with the price more recently increasing to 1.0716, now below the VWAP of 1.0773 - and indicating a possible new phase of weakness. Support has adjusted lower to 1.0630, while resistance has increased to 1.0916. The RSI has increased to 42, indicating a reduction in bearish pressure compared to the previous report. GBP/USD remains in a neutral trend in a consolidation phase, with the price slightly increasing to 1.2662, now around the VWAP of 1.2722. Support has adjusted higher to 1.2621, and resistance has decreased to 1.2824. The RSI has increased to 44, indicating a moderation of bearish sentiment compared to the previous report. USD/JPY remains in a bullish trend - having overcome the late April peak - and has just re-entered an impulsive phase, with the price increasing slightly to 159.74, now above the previous VWAP of 157.33. Support has adjusted higher to 154.68, while resistance has increased to 159.80. The RSI has increased to 72, reflecting a strong increase in bullish momentum compared to the previous report. by Spreadex0
DAX**DAX:** This week's forecast is for the price to fall to between 17410 and 17203.Shortby simaoxceps0
Dax at Structural ResistanceDax is at structural resistance. Considering a short opportunity , if this zone holds. Ideally like to see a double top price action , to trigger the short. You may wish to filter with an additional signal of RSI overbought. Trade suggestion is on chart . Shortby salsapete0
De30 GermanyGerman market bullish angel once again , if u like my analysis then please hit like button follow for more analysis. FB & X FOLLOW.Longby go4mudi0
DAX // minor long trendDear Traders, I said everything I wanted in the video, but let me summarize the key points. Monthly trend: LONG W-D trend: SHORT countertrend, accumulation phase H4-H1 trend: LONG So the minor long trend is valid, the target is the Daily breakdown. Enjoy riding the waves! ZenScape TradingLong06:36by ZenScape1
#202426 - priceactiontds - weekly update - daxGood Evening and I hope you are well. dax cfd Quote from last week: bull case: Bulls see it as a small pullback and a sell vacuum on Friday to the big round support 18000. They want to create the same reversal as they did on 2024-04-19 with a 2% up day. The pullback in late March and April was 13 days long while we are in a 21 day long pullback. Bulls also argue that this is the first touch of the weekly 20ema since 2023-11 when we sliced through and have not touched it once since. Trends tend to test the extreme after the trend line is broken. I have absolutely no confidence in the bears to crash from here on, without at least a retest of the bull trend line at around 18300. If bears manage to close the gap to 17100, I am obviously wrong. comment: Sell vacuum theory was spot on. Bears printed 2 big good looking bars right to huge support and got no follow through. Bulls used it to trade back at least to the daily ema and 2/3 of the move. Huge price level around 18400/18450 with the ema. Bulls want above to test upper expanding triangle around 18600 and bears want a bigger second leg down to 17600. Both completely valid arguments and I will wait for a clear breakout before following. current market cycle: trading range - go look at the monthly chart. It’s a clear 4 month trading range. —unchanged key levels: small range 17600 / 18500 bull case: Bulls already had 2 pushes up in this pullback and they want a third one to around 18600. Their first target is a 1h close above the daily ema 18430. Invalidation is below 18260. bear case: I do think bears last chance here at the daily ema or they risk another bull leg to 18600. I think the odds are 50/50 for either side on Monday/Tuesday. Bears see this as a higher pullback in the new steeper bear trend that started 2023-06-13 with the two big bear bars. If they fail, market will spend more time in the range 18000-18600. Invalidation is a 1h close above 18460. outlook last week: “short term: Neutral. Please read on so you know why and how I will trade it. So bears are in control. Below all ema and really big red bars and all red bars for 5 weeks. I’m still not shorting right at 18000. That’s insane. Can we go lower on momentum to 17600? Yes. Will I short it? Bet. R:R here is on the bull side if they build buying pressure and get follow through. Until all of that I am neutral.” → Last Sunday we traded 18016 and now we are at 18367. High of the week was 18448 so that outlook was as good as it gets. Hope you made some. short term: Neutral again. Need to see a clear winner here at the daily 20ema for the next direction. medium-long term: 17000 over the next 3-6 Months and when we get there, I update again. current swing trade: None but will look for weakness on Monday/Tuesday for another big leg down. Sp500 and Nasdaq have to also be weak for that. Chart update: No bigger updates on my chart. Green two legged correction (ABC) was spot on and is still valid.by priceactiontds0
Looking for sell Time for breakout, after consolidation, break 18000 level give more selling towards 17500 -600 , Shortby Deepak_1150
SELL GER 40 🇩🇪 Looking bearish at the moment broke the downside channel and retested it looking for more bears to come in Shortby rasmarcusgarvey0
Decline RetracedWe've reached the 38 % retracement of the June decline, My bearish bias thus has been confirmed. As this retracement level has been a support/resistance level since the beginning of April I expect it to hold this time as well. Shortby motleifaul0
GER30 30mins - Triangle Breakout : an hour agoTriangle has broken through the support line at 6/19 11:00. Possible bearish price movement forecast for the next 9 hours towards 18,080.10. Expiry Date/Time: 6/19 20:59Shortby ronlobo0
DAX ANALYSIS 19/06/2024DAX chart you provided, let's break down the key components visible in the chart: Volume: The volume is indicated at the bottom of the chart. The volume bars show trading activity, with higher bars representing higher trading volumes. VWAP (Volume Weighted Average Price): There are two VWAP lines on the chart: one for the week and one overall. The weekly VWAP is shown at 18,081.10 and the overall VWAP at 18,158.83. VWAP is used to assess the average price a security has traded at based on both volume and price. Liquidity Heatmap: The green and red zones on the chart represent liquidity zones. Red zones indicate areas of higher selling interest (resistance), while green zones indicate areas of higher buying interest (support). Resistance and Support Levels: The chart has marked key resistance and support levels with blue and red lines. Resistance is around 18,500 and support is around 17,800. Price Action: The current price is 18,123.58, indicating a recent downward trend followed by a consolidation phase near the support level. Bollinger Bands: The orange lines around the price represent Bollinger Bands, which measure market volatility and are used to identify overbought or oversold conditions. The bands are relatively tight, indicating reduced volatility. Analysis and Commentary Bearish Trend with Potential Reversal: The DAX has experienced a recent bearish trend, as evidenced by the declining price action. The price is currently consolidating near a key support level around 18,000. Resistance Levels: The price is facing resistance around 18,500. If the price breaks above this level, it could signal a potential reversal or recovery from the recent downtrend. Volume Insights: The volume is crucial in confirming price movements. The recent consolidation phase near the support level has been accompanied by relatively lower volume, indicating reduced selling pressure. Support Levels: The key support levels are around 18,000 and 17,800. These levels could provide strong buying opportunities if the price holds above them. Bollinger Bands: The tight Bollinger Bands indicate reduced volatility. A significant price movement (breakout or breakdown) could be expected once the bands start to widen. Recommendations For Long Positions: Consider entering long positions if the price breaks above the resistance level at 18,500 with increased volume. This could indicate a potential reversal and a bullish trend. Setting stop-loss orders just below the current support levels (around 17,800) can help manage risk. For Short Positions: Short positions could be considered if the price fails to break above the resistance level and shows signs of further decline. Tight stops should be placed just above the resistance levels. For New Positions: Monitoring the price action near the current consolidation phase is crucial. Entering positions based on the breakout direction (either above 18,500 for longs or below 18,000 for shorts) with confirming volume can be a strategic approach.by crktrader0
DAX ANALYSIS 19/06/2024DAX chart you provided, let's break down the key components visible in the chart: Volume: The volume is indicated at the bottom of the chart. The volume bars show trading activity, with higher bars representing higher trading volumes. VWAP (Volume Weighted Average Price): There are two VWAP lines on the chart: one for the week and one overall. The weekly VWAP is shown at 18,081.10 and the overall VWAP at 18,158.83. VWAP is used to assess the average price a security has traded at based on both volume and price. Liquidity Heatmap: The green and red zones on the chart represent liquidity zones. Red zones indicate areas of higher selling interest (resistance), while green zones indicate areas of higher buying interest (support). Resistance and Support Levels: The chart has marked key resistance and support levels with blue and red lines. Resistance is around 18,500 and support is around 17,800. Price Action: The current price is 18,123.58, indicating a recent downward trend followed by a consolidation phase near the support level. Bollinger Bands: The orange lines around the price represent Bollinger Bands, which measure market volatility and are used to identify overbought or oversold conditions. The bands are relatively tight, indicating reduced volatility. Analysis and Commentary Bearish Trend with Potential Reversal: The DAX has experienced a recent bearish trend, as evidenced by the declining price action. The price is currently consolidating near a key support level around 18,000. Resistance Levels: The price is facing resistance around 18,500. If the price breaks above this level, it could signal a potential reversal or recovery from the recent downtrend. Volume Insights: The volume is crucial in confirming price movements. The recent consolidation phase near the support level has been accompanied by relatively lower volume, indicating reduced selling pressure. Support Levels: The key support levels are around 18,000 and 17,800. These levels could provide strong buying opportunities if the price holds above them. Bollinger Bands: The tight Bollinger Bands indicate reduced volatility. A significant price movement (breakout or breakdown) could be expected once the bands start to widen. Recommendations For Long Positions: Consider entering long positions if the price breaks above the resistance level at 18,500 with increased volume. This could indicate a potential reversal and a bullish trend. Setting stop-loss orders just below the current support levels (around 17,800) can help manage risk. For Short Positions: Short positions could be considered if the price fails to break above the resistance level and shows signs of further decline. Tight stops should be placed just above the resistance levels. For New Positions: Monitoring the price action near the current consolidation phase is crucial. Entering positions based on the breakout direction (either above 18,500 for longs or below 18,000 for shorts) with confirming volume can be a strategic approach.by crktrader0
DAX 30 Potential ShortHi Traders. 1.Ascending channel 2.Bearish Impulse out of the structure 3.LTF Correctial structure Right now we are in a correctional structure after the bearish impulse when the correction is finish i think we can expect more bearish movement Shortby ltdcrack880
2024-06-18 - a daily price action after hour update - daxGood Evening and I hope you are well. overall market comment Indexes had their expected trading range price action today. Mostly what happens after huge days. Markets are in balance here, which is good for the bulls. Commodities also all green today. Oil is grinding to 81/82 while Gold is moving sideways under the daily 20ema. I expect Oil to pull back soon and my preferred path for Gold is a break below the triangle and 2300 for another big leg down. dax comment: Well, what did we learn today? Not much tbh. It’s still a bear flag and bears keeping it below 18200, which is bearish. My target was at least 18300 for the bulls. Daily ema is at 18450 and that’s also where the bull trend line is for a retest of the breakout. All good targets above but for now, bears are in full control. Bulls need a good 1h bar close above 18200 for higher prices. You won’t find many new info’s below compared to yesterday. current market cycle: probably bear trend if the pullback stays under 18300/18360 key levels: 18000 - 18400 bull case: Bulls need a good 1h bar close above 18200 for higher prices. Not much more magic to it. If we trade below 18080, we test 18000 again. Invalidation is below 18080. bear case: Bears are finding acceptance below 18200, which is very bearish. They are in full control and probably letting the daily ema come closer to attract new bears for another leg below 18000. Invalidation is above 18360. short term: neutral. Market is in balance here until breakout above 18200 or below 18080 medium-long term: My long term outlook stays bearish and I expect at least a -20% correction in 2024. Medium term is 17100 while I think we can touch the big bull trend line starting 2022-10 around 16700 in 2024. —unchanged current swing trade: None trade of the day: Yeah good question. So the open of the week was 18098 and y close was 18084. Good support area for longs. So buying the double bottom bar 33 + 49 was reasonable. Short from the open was also good because it was too strong to not get short and the upper bull channel line held.by priceactiontds0
DAX40 - Range TradingDAX40 H4 We have started to form a short term range between 18200 price and 17900 price. Recent retest wick on the H4 to see resistance hold. We are yet to touch 17900 during such recent trade, but that's what we have our eyes on and alerts set for. Waiting patiently. Additionally, we are going to set alerts for 18200 also, in the case we top out resistance price again. We can then look to sell from resistance price of 18200 down towards 17900.by Trade_Simple_FX0
Weekly Technical Analysis 17-06-2024Start your week by identifying the key price levels and trends. The SpreadEx Research team has analysed the most popular markets, including stocks, indices, commodities & forex. *KEY Trend direction is set by the slope of the VWAP Trend phase is determined by the current price relative to the VWAP (20) level Support & Resistance are set by the StdDev #2 Lower and Upper respectively. Momentum is determined by the RSI level (70 as overbought and under 30 as oversold). ---------------------------------------------------------- Analysis Germany 40 remains inside a tight sideways consolidation of its broader bullish trend, with the price decreasing to 17,977, now below the VWAP of 18,463. Support and resistance levels have adjusted to 17,975 and 18,931, respectively. The RSI has decreased to 34, indicating a further moderation in upside momentum compared to the previous report. UK 100 remains in the consolidation phase of a bullish trend, with the price decreasing towards the June lows, and still below the VWAP of 8,219. Support has adjusted to 8,097, while resistance has increased to 8,342. The RSI has decreased to 39, reflecting a significant weakening in momentum compared to the previous report. Wall Street has made no major upside or downside progress in the past 3 months - remaining in a neutral consolidation phase, with the price recently decreasing to 38,468, now below the VWAP of 38,636. Support and resistance levels have adjusted to 38,135 and 39,137, respectively. The RSI has slightly decreased to 40, signalling a reduction in bullish momentum compared to the previous report. Brent Crude remains in a bearish trend and continues in an impulsive phase, with the price increasing to 82.12 and probing the April lows and 75.00, now above the VWAP of 81.21. Support has adjusted higher to 77.47, while resistance has increased to 84.95. The RSI has increased to 51, indicating a strengthening of bullish momentum compared to the previous report. Gold is trading sideways in a neutral consolidation since topping in mid-April, with the price recently increasing to 2,321, now around the previous VWAP of 2,322. Support has adjusted higher to 2,286, while resistance has decreased to 2,375. The RSI has increased to 47, indicating a moderation of bearish momentum compared to the previous report. EUR/USD remains broadly trendless with the price more recently decreasing to 1.0706, now below the VWAP of 1.0812 - and indicating a possible new phase of weakness. Support has adjusted lower to 1.0681, while resistance has increased to 1.0942. The RSI has decreased to 38, indicating a significant increase in bearish pressure compared to the previous report. GBP/USD remains in a bullish trend but has transitioned into a corrective phase, with the price slightly decreasing to 1.2660, now around the VWAP of 1.2742. Support has adjusted higher to 1.2660, and resistance has decreased to 1.2822. The RSI has decreased to 43, indicating a moderation of bullish sentiment compared to the previous report. USD/JPY remains in a bullish trend - although it has still not overcome the late April peak - and has just reentered an impulsive phase, with the price increasing slightly to 157.61, now above the previous VWAP of 156.78. Support has adjusted higher to 155.37, while resistance has increased to 158.20. The RSI has increased to 59, reflecting a strengthening of bullish momentum compared to the previous report. by Spreadex0
PROFESSIONAL ANALYSIS DAX Professional Analysis of DAX Price Chart The chart provides a historical perspective of the DAX index in EUR from 1980 to 2024, incorporating key technical analysis tools such as Fibonacci retracement and extension levels, trend channels, and volume profiles. Here’s an in-depth professional analysis of the chart: Historical Context and Trend Analysis Long-term Trend: The DAX index has exhibited a consistent long-term upward trend, marked by significant bullish movements punctuated by notable corrections. Key historical peaks and troughs are clearly depicted, with substantial growth observed post-2003 and during recent years up to 2024. Fibonacci Retracement and Extension Levels: Key Levels: Important Fibonacci retracement levels are plotted from significant highs and lows. These include levels such as 0.382, 0.5, 0.618, and 0.786, which serve as crucial support and resistance zones. Extension levels such as 1.618, 2.618, and 3.618 are used to project future price targets. Current Position: As of June 2024, the DAX index is trading around 18,265.68, nearing significant Fibonacci extension targets that suggest potential further upward movement. Channel Analysis Upward Channels: The chart features multiple ascending channels indicating long-term bullish trends. The DAX index has generally oscillated within these channels, finding support at the lower boundaries and encountering resistance at the upper boundaries. Channel Boundaries: Lower Boundary: Historically important support levels crucial for maintaining the bullish trend. Upper Boundary: Potential resistance levels that could act as significant profit-taking zones. Volume Profile Analysis Volume Profile: The volume profile on the right side of the chart provides insight into the traded volume at different price levels, highlighting areas of high activity. Notable volume nodes indicate key levels of support and resistance where significant buying and selling have occurred. Volume Trends: Increased volume typically coincides with major price movements, indicating strong market interest and potential trend continuation or reversal points. Future Projections Bullish Projections: Primary Targets: Based on Fibonacci extensions, key future price targets include: 1.618 level at approximately 14,963.22 2.618 level at approximately 22,840.88 3.618 level at approximately 30,718.54 4.236 level at approximately 35,586.93 These targets suggest potential significant gains if the current trend continues and market conditions remain favorable. Potential Correction Zones: Intermediate Support Levels: Possible pullbacks or corrections might find support at previous resistance levels turned into support, such as the 10,094.83 area. Key retracement levels to monitor include 0.382 and 0.618 Fibonacci retracements from recent highs. Conclusion Overall Outlook: The long-term outlook for the DAX index remains bullish, supported by historical trends and technical analysis. Investors should monitor key Fibonacci levels and trend channel boundaries for potential entry and exit points. Risk Management: It is essential to consider potential market volatility and external economic factors that could impact the DAX index. Implementing risk management strategies, such as setting stop-loss orders and diversifying investments, is recommended to mitigate potential losses. This analysis provides a comprehensive overview of the historical and projected price movements of the DAX index, utilizing technical analysis tools. Investors and traders can use this information to make informed decisions in the market. by crktrader0
2024-06-13 - a daily price action after hour update - daxGood Evening and I hope you are well. overall market comment Indexes pulled-back as expected and closed mostly where they opened the us session. Dax showed strong weakness again with a reversal to new lows. Tomorrow another uber bullish day at least for sp500 and nasdaq is expected, since bulls want to close this week at the highs, creating another big buy signal going into next week. Nasdaq closing the week above 20000 would be something. Commodities continued with their down trends. Oil confirmed the reversal at the upper bear channel and Gold also sold off for 30 points but found support at the 2320 area again. More sideways movement expected here. dax comment: Broad bear channel lives on. Every day, same story, bulls try to reverse it and bears just relentlessly selling every rip. Makes you wonder how many bulls will continue to do, before they give up. It’s fitting, that we almost exactly closed where the big bull trend line from January and the lower expanding triangle trend line crossed. Here it’s big decision time for the next impulse. Bears are in their 4th red week and still have not dropped below the big bull trend week from early May. Something you do not see that much on a chart. current market cycle: trading range key levels: 18000 - 18700 bull case: Absolutely nothing for the bulls today. They had their try yesterday and fumbled the ball again big time. Bears just crushed them right from EU open to close 350 points lower. They only thing I have for the bulls is the big bull trend line we are at. If they can not stay above it, this bull trend is finally over. So it’s do or die for bulls over the next days. If they can produce buying pressure again, it would be fitting that this week closes as a red doji right under 18477ish. Invalidation is below 18200. bear case: Bears crushed the bulls again today. They had an amazing setup to break above the expanding triangle and go for the highs again but I think this market is done with the bullishness and we have seen the last of 18000, once we drop below again. More probable is that this market moves sideways for many more weeks between 18000 - 19000 before a catalyst turns everyone and their dog bearish again. Bears need to drop below 18200 with force. Invalidation is above 18660. short term: I would not long anything until bulls trade back above the 1h ema again but shorting down here is suicide as well, unless bears just melt through 18200. Most likely outcome tomorrow is sideways for dax between 18240 - 18450. medium-long term: My long term outlook stays bearish and I expect at least a -20% correction in 2024. Medium term is 17100 while I think we can touch the big bull trend line starting 2022-10 around 16700 in 2024. —unchanged current swing trade: None trade of the day: Just short anywhere and go away. Pure weakness since Globex and EU open just sold everything. The open price was the high of the eu session, to the tick. Happens handful of times a year.by priceactiontds0
Is DAX showing something interesting for the bulls?#DAX EASYMARKETS:DAXEUR DAX seems to be showing some positive signs for the bulls, however, we cannot get comfortable with that idea yet until we see a clear breakout. Disclaimer: easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.03:50by easyMarkets1
2024-06-12 - a daily price action after hour update - daxGood Evening and I hope you are well. comment: Broad bear channel lives on. Bulls printed a big bullish bar closing at it’s high today, right above the daily ema. Today was bullish enough to expect another leg up to at least 18700/18800. current market cycle: trading range key levels: 18300 - 18800 bull case: Globex made the low of the day and bulls actually stayed below 18500 but the CPI print lifted everything up, so they got their spike to 18670. Bulls want at least to touch the upper bear trend line around 18750 tomorrow. 1h 20ema should be support. Invalidation is below 18550. bear case: Bears kept it below 18500 which was decent but CPI made them give up. I do think they won’t try to sell this until we get to the upper bear trend line and depending on how strong we move up there, they might not step in until 18800. Invalidation is above 18700. short term: If we stay above 18600, it’s max bullishness, until bears get below the 1h 20ema. Below 18500 it get’s bearish again. medium-long term: My long term outlook stays bearish and I expect at least a -20% correction in 2024. Medium term is 17100 while I think we can touch the big bull trend line starting 2022-10 around 16700 in 2024. —unchanged current swing trade: None trade of the day: Bull trend since Globex. Not a single 1h bar close below the 1h 20ema.Longby priceactiontds1
Exhausted?We've reached a new high at the end of the past week. This week the market seems to be waiting, taking breath. This may mean that at the moment there is no immediate buying interest. An upcoming profit taking may lead to a sharp drop. After such a sharp rise it is not unusual that some profit taking of short term oriented market participants will take place.Shortby motleifaulUpdated 3
Bearish drop?DAX (DE40) is reacting off the pivot which acts as an overlap resistance and could potentially drop to the pullback support level. Pivot: 18,396.65 1st Support: 18,225 1st Resistance: 18,531.90 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.DShortby ICmarkets7