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DAX 17 – 21 December

UPDATE 21st Dec : https://www.tecet.net/?p=2759

Last Week:

Last week rally lost a bit momentum all ready at 10930 resistance. After so firm sell off that is no surprise as traders play defensive and rather waiting for solid signals with supports get marked and provide base for higher targets.

Futures expiring at 20th Dec so after sell off dominated period and price pinned currently near to lows, we can expect some more profit take before rollover period. That can push price back up towards 1120/430 zone.

Perhaps Daily Higher-Low can attract more buyers.

Buyers: nearest support 10730 can provide base for another attempt break above 10930 and take out 11075 target with extension – up to gap close 11200

Sellers: Friday end up mixed, rally weaker around 10930 so good chance to push under 10730 with targets 10670 / retest lows and then extension 10500/300

Volume:

2 Comments

  1. Tecet

    Right 10730 is not support any more even as DAX tried to give some fight to save it. Sell setup clearly work out better.

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