DAX: Weekly overview! WIll we restest the 12.000? ***19.11.18***
Hey tradomaniacs,
since we`ve created the Diamond-Pattern after the high in Mai @ 13.206, we`ve seen a huge Sell-Off down to 11.040,5 this october!
It was as crazy and volatile as expected! But what now?
There were many different fundamental aspects causing this nervous market.
However, we know the market is irrational and won`t give up that quick. The scent of profit is too strong and the market might see good chances to buy during the Years-End causing a rally.
Will we retest 12.000?
The Chart is currently still bearish. But break through the imortant 12.000 could be like a heart-warming hot chocolate during cold winter days giving the market hope to see a rally up to a new ATH.
I expect at least a retest of it. :-)
Peace and good trades
Irasor
since we`ve created the Diamond-Pattern after the high in Mai @ 13.206, we`ve seen a huge Sell-Off down to 11.040,5 this october!
It was as crazy and volatile as expected! But what now?
There were many different fundamental aspects causing this nervous market.
- Italy`s budget and it`s bond yields
Failing Brexit
Weak wallstreet which is concerned about the tradewar
Strong US-Dollar
Supply-deficits in the tech-sector (apple) which totally destroyed the Dow&Jones and SPX500,
Saudi-Arabia and so on.
However, we know the market is irrational and won`t give up that quick. The scent of profit is too strong and the market might see good chances to buy during the Years-End causing a rally.
Will we retest 12.000?
The Chart is currently still bearish. But break through the imortant 12.000 could be like a heart-warming hot chocolate during cold winter days giving the market hope to see a rally up to a new ATH.
I expect at least a retest of it. :-)
Peace and good trades
Irasor
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