Short
DAX overbought? How long will it last?
It's hard to imagine that the DE30 can hold it's position for a longer time over the psylogical "party times" line of 13000.
Even ignoring the fundamentals, the bad news and the whole economic situation, I also see sell chances from the technical side.
The pattern on the 4h chart, combined with the earlier breakout of the range are bearish.
If not breaking down to the set retracements, DAX may go up to the top of the range before continuing going down. A breakout over
In my opinion, this sideway is just a nervous waiting of the market for the next information that economy loses buying power and makes a big movement down to 11590 or even 10900.
Happy trading, don't forget your money management and stay mentally strong :)
Even ignoring the fundamentals, the bad news and the whole economic situation, I also see sell chances from the technical side.
The pattern on the 4h chart, combined with the earlier breakout of the range are bearish.
If not breaking down to the set retracements, DAX may go up to the top of the range before continuing going down. A breakout over
In my opinion, this sideway is just a nervous waiting of the market for the next information that economy loses buying power and makes a big movement down to 11590 or even 10900.
Happy trading, don't forget your money management and stay mentally strong :)
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