DAX is very much oversold. Friday price actions seems demand coming at second major VPOC at 11675, reversal is inevitable at-least to any mention levels on charts. i.e 12333 R1 - 12877 R2 - 13200 R3. Further price action at above mentioned levels will decide bears strength.
Note
Price struggled to break through R1, failed multiple times which shows bears are strong. Now only hope for bulls is taking support at 10420 else 9900- 9650 ( This range coincide with 2011 AVWAP price and 2nd VPOC price.Trade active
Last close 9600. Never thought this will come in just 3 session. Next support level - 7968 (Multi year support).Trade active
Todays low 8800, which is coincide with 2008 AVWAP price, chances for some short term bounce is convincing
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.