DAX Lower Low to come after this quick rebound. Sell.
DAX is recovering today from yesterday's brutal break down but this should be a short lived reaction.
The 1day RSI made a Double Bounce on a Falling Support, much like the one on March 13th.
On that price action, after a short lived rebound that got rejected on the 1day MA50 and the 0.5 Fibonacci, the price resumed the downtrend and bottomed on the 1.5 Fibonacci level.
Take advantage of this quick rebound for a better sell entry and target 15100, which happens to be also at the bottom of the long term Channel Up and the 1day MA200 (which is intact since November 10th).
Previous chart:
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The 1day RSI made a Double Bounce on a Falling Support, much like the one on March 13th.
On that price action, after a short lived rebound that got rejected on the 1day MA50 and the 0.5 Fibonacci, the price resumed the downtrend and bottomed on the 1.5 Fibonacci level.
Take advantage of this quick rebound for a better sell entry and target 15100, which happens to be also at the bottom of the long term Channel Up and the 1day MA200 (which is intact since November 10th).
Previous chart:
Follow us, like the idea and leave a comment below!!
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