This is my short term DAX price action guesstimate.
RESISTANCE: 9330 & 9400
SUPPORT: 9200
9200 is quite obviously a super important support level for the short term! It might also hold if rebounds are not only short cover bounces but actually investors being bullish and loading up longs. IF however, the bounce is only or mostly short covers, we are SOL (Shit Out of Luck) and this will continue south.
Sofar this is a double bottom in play until proven otherwise I'd say. BUT if I had to guess, I'd guess on another wave down before DAX bottoms mid term. But let's see what mr. Market is planning ahead.
GL and remember to use S/L!
RESISTANCE: 9330 & 9400
SUPPORT: 9200
9200 is quite obviously a super important support level for the short term! It might also hold if rebounds are not only short cover bounces but actually investors being bullish and loading up longs. IF however, the bounce is only or mostly short covers, we are SOL (Shit Out of Luck) and this will continue south.
Sofar this is a double bottom in play until proven otherwise I'd say. BUT if I had to guess, I'd guess on another wave down before DAX bottoms mid term. But let's see what mr. Market is planning ahead.
GL and remember to use S/L!
