DAX to turnaround at overbought extremes?
GER40 - 24h expiry -
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Price action has posted a Doji candle and confirms a possible stall in the recent move.
The trend of higher intraday lows has also been broken.
We are trading at overbought extremes.
A higher correction is expected.
A break of the recent low at 15790 should result in a further move lower.
We look to Sell a break of 15778 (stop at 15878)
Our profit targets will be 15528 and 15478
Resistance: 15880 / 15950 / 15980
Support: 15790 / 15700 / 15650
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Price action has posted a Doji candle and confirms a possible stall in the recent move.
The trend of higher intraday lows has also been broken.
We are trading at overbought extremes.
A higher correction is expected.
A break of the recent low at 15790 should result in a further move lower.
We look to Sell a break of 15778 (stop at 15878)
Our profit targets will be 15528 and 15478
Resistance: 15880 / 15950 / 15980
Support: 15790 / 15700 / 15650
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
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