Last week as pointed in weekly setup, follow expected technical rebound in bearish trend.
last week charts and outlook: https://www.tecet.net/?p=1439
Buyers firmly scored most of targets including 11630 extension and highest point of 11648
Market get supported by “news” as US/China deal work is in progress and Trump tweets to talk up stocks, lets be cautious here for next week as such actions can be just to boost statistics and improve way it looks for Mid term election purpose. Lets not get fouled here.
Remember trading law: “Buy on rumors sell on news.”
Buyers will be still trying to deliver position higher to next extension 11850 however path is not so easy any more and will require from them to put up good fight and perhaps get solid consolidation periods but can be rewarding with price reach 11850 and next target 12150
Targets 11850 and 12150
Price reach good short entry so we will be looking for buying weakens here and either consolidation under last week highs or sharp drop in price. Perhaps Monday Asia session all ready help to find more clues regarding next week sentiment.
Targets 11330/00 11260 then extensions 11150/085
Resistance 11630/50 and 11550/70
Supports and resistances :
DAX price gaps: