DAX broke out of the diamond pattern to the bottom and has reached the support at fib retracement 61.8% - which had been tested.
Indicators are signalling more weakness (RSI + ADX) and the Index of the german 5 years bonds is rising as well, so it isn´t for sure that this support will be strong enough to halt the fall.
Whether DAX could be stopped on the support and stays well above this line or it breaks through to the bottom and reaches the long term ascending trendline. If it breaks through this important trend line the way is open for further losses and the next strong support will be only at fib retracement 38.2% (10.700 pt). (the fib retracement at 50% isn´t a strong level)
stop: below 11.800pt (fib retracement 61.8%)
buy: if DAX bounces on this level and manages to regain force, then above 12.280 pt (orange swing trend line) one could do some investments - but only if DAX crosses the fib retracement at 78.6% we re-enter a positive trend
Indicators are signalling more weakness (RSI + ADX) and the Index of the german 5 years bonds is rising as well, so it isn´t for sure that this support will be strong enough to halt the fall.
Whether DAX could be stopped on the support and stays well above this line or it breaks through to the bottom and reaches the long term ascending trendline. If it breaks through this important trend line the way is open for further losses and the next strong support will be only at fib retracement 38.2% (10.700 pt). (the fib retracement at 50% isn´t a strong level)
stop: below 11.800pt (fib retracement 61.8%)
buy: if DAX bounces on this level and manages to regain force, then above 12.280 pt (orange swing trend line) one could do some investments - but only if DAX crosses the fib retracement at 78.6% we re-enter a positive trend