The day candle closed on 10289 which is exactly the descending weekly top channel line and I expect DAX to try and get under it with the next target being 10180. Providing we don't see long shadows on the hourly candles, DAX can move further down to 10136 or even 10072.
It is worth noting however that at 17:30 yesterday DAX closed at 10402 thus leaving a gap and 10417 happens to be the 50% retracement level of yesterday's down. We may get a pull back to that very level before making its way down again.
Please beware that this is just my view and you are advised to trade your own plan!
Wishing you the best of luck today!
It is worth noting however that at 17:30 yesterday DAX closed at 10402 thus leaving a gap and 10417 happens to be the 50% retracement level of yesterday's down. We may get a pull back to that very level before making its way down again.
Please beware that this is just my view and you are advised to trade your own plan!
Wishing you the best of luck today!
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Target reached. Back up around here...
