DAX: The correction process may continue till April 3rd
At the very moment, DAX is facing a correction. It is still to be considered as a correction unless the index goes beyond 11408. The correction process may well go until 11600 by April 3rd. After that, ECB will continue to spread fresh money in the market, i.e 60 bio € which will by essence boost the equity market.
It is a little time to take some profit from the market, and in particular if we do bare in mind that sice the beginning of the Year DAX took and very sharp upside momentum.
The Kumo Cloud to confirm the correction process but since the Lagging span didn't cross the Kumo Cloud, one may be carefull before taking a sharp decision.
At the moment, DAX is in a 0.238 Fib retracement which by essence is rather a strong support levle because it was a very strong resistance as well.
We do have to see the first opening day next Monday and decide on the future trend.
It is a little time to take some profit from the market, and in particular if we do bare in mind that sice the beginning of the Year DAX took and very sharp upside momentum.
The Kumo Cloud to confirm the correction process but since the Lagging span didn't cross the Kumo Cloud, one may be carefull before taking a sharp decision.
At the moment, DAX is in a 0.238 Fib retracement which by essence is rather a strong support levle because it was a very strong resistance as well.
We do have to see the first opening day next Monday and decide on the future trend.
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