Germ30 is very over extended and overbought and we are expecting to see a correction, on the daily timeframe we can see the market is clearly in a rising wedge formation and looks to be in a distribution phase. However we can see the market is still above an extremely strong level of support so until the market remains above this zone we cannot be looking for this short, if we see a daily close below this zone on the retest we can look at executing this short.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.