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DAX update 02.10 October



We are still in middle of weekly plan. Both sell and buy setups not clear which will work out. Sellers still in favor as we have long term Berish trend but again there is some strenght on buyers side since mid September. 

Price reach 12220 target but struggle to get lower. That leaving bullish action from that price still possible.

Today DAX closed Monday open gap but selling pressure get absorbed. Meanwhile DOW which trading with good correlation to DAX set new ATH and that might be reason which hold DAX from decline lower even with uncertain situation with Italy. 


Right now we will be watching if today confirmation of 12200 as support will allowed to beat Monday highs and price remount September trend line to open path for targets at 12530 / 600

Weakens above today highs can create further decline towards next key support 12100/80.


good luck!

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