If you look at the past months, you can always see the three upward humps on the 3h chart of the DAX (look for the blue MA48 line on the chart): 1-3-5, 1-3-5, ...
Well, I wonder which three humps will be in the next few weeks?
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The question is: 12250 - Will it close below this line? And if so why not?
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Imagine you are an institutional investor and of course you look at the XETRA DAX (core trading session in Frankfurt 9:00am-17:30pm with the most volumes). What does this chart tell us?
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The stupid buyers are always the same, they never change. Against all reason hope for a miracle. Infection and unemployment rates, none of that really matters. Just stick to the chart - you have to buy, there is still something to get, isn't there? Good luck!
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By the way, we might be watching the second hump unfold. If so, I am a bit surprised or even disappointed by the second B-C leg of the correction. It is probably too short. Well, let's see. The last word has not yet been spoken, has it?
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