We are still in a downward trend. The impressive rise since mid October however is rather a correction of the summer decline which we have corrected 2/3 now. I think that the correction has been to fast for the market and the uncertainty has not gone yet. From here a profittaking seems to be more likely to me. Let's see whether the expected renewed decline will be a profit taking only and the Christmas rally will continue or if the downtrend can be resumed.
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