DAX respecting the 4hour MA200

DAX is staging a rebound coming close to the 4hour MA50 yesterday (has been untouched since January 4th). This is the normal technical reaction we expected on such an important Support Cluster (as the dotted line from the October 2nd bottom was also there) and was a short-term buy.

Maintain a tight SL though as a cross under it renders the price extremely bearish on the medium term that will target the 1day MA50.

A -6.60% repeat of December 14th - 16th gives a 14610 estimate. 4hour RSI still far from the buy opportunity when being oversold.

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