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DAX – the Rebound Reaches 50% of the Correction from Historical Levels

From the double floor of the past 26/3, the Dax has corrected 50% of the falls from historic highs to said double floor and for this it has taken more than three weeks. In addition, he began this correction with some long volume, but then and with the passage of the days it has cost him a lot to appear again, hence it has taken so long to correct the comments. Evidently that this way it is not possible to return to see important lengths or to return to zone of maximums again. To do this, the long volume must return with a force much greater than that seen in recent weeks.

The normal thing in areas of resistance like the one that arrived yesterday is that the price takes a long time to continue, especially seeing the small volume entered, but to keep going up and for continuation of these lengths it will have to overcome mainly three key areas and as we commented see more volume than that seen so far. In order to find such resistances are, the roof of yesterday where the 50% Fibonacci commented (12,651.5) and the SMA of 200 in daily chart (12,659) coincide, and this will be the hardest area to overcome of all there is the SMA of 30 in the weekly chart (12,800), the Fibonacci 61.8% (12,875) and the price tag of the 13,000 and last and before the historical highs is 76.4% (13,150) where it is huge lateral gestates.

And we will only think again of short films if these last increases are unified according to the system and, above all, the short volume returns with significant force.

As always will be the trend along with our volume indicator who defines us the direction to follow.

As we have said a lot lately, all precaution and close monitoring is inevitable.

As always in today’s video analysis you will have everything with more and better detail and a more extensive explanation. Also in the morning broadcasts on Monday and afternoon we do daily.

Posted in DAX

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