DAX seemed to have gain strength as it is relatively strong yesterday; basing off the PZ and going to new highs. But US weakness resulted in DAX pulling back also.
Are we going to get a next leg down now? TBH US indices are more bearish and definitely oversold and thus many would likely be looking for further downside continuation today for US indices.
But IMO, DAX's closure yesterday is not bearish, or even somewhat bullish. Price is between PZ and DBZ, which is neutral to bullish. Overall, I would say to look for further upside; with 15195 as a low risk level to go long, for a move back to yesterday's high (15359) and even further to 15411.
Are we going to get a next leg down now? TBH US indices are more bearish and definitely oversold and thus many would likely be looking for further downside continuation today for US indices.
But IMO, DAX's closure yesterday is not bearish, or even somewhat bullish. Price is between PZ and DBZ, which is neutral to bullish. Overall, I would say to look for further upside; with 15195 as a low risk level to go long, for a move back to yesterday's high (15359) and even further to 15411.
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Join me for free on Patreon (patreon.com/fademeifyoucan) to receive my daily FX and indices trading plan. DM me to join my new group to learn all my trading levels and to trade together.
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.