DAX long term short

1 Apr 2016Clean breakout above its cylinder resistance (2013/2015 blue resistance) beginning of 2015 to reach its ATH in April 2015. Ever since the market has been declining underneath a new cylinder resistance. The daily trend argues for a retest of the low 9000s which would correspond to the pink long term cylinder support (2000/2016 support). 8800/9000 zone is critical as a break underneath would mean a retest of the 2000/2008 red linear resistance (8100/8150). Short till 9000 then reassessment needed.

7 Apr 2016

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