Indice DAXShort
DAX set to face resistance around 12900/13000 mark
DAX is trading around 13000 levels and is set to face resistance here. The fibonacci 0.618 retracement of recent drop between 13300 and 12250 is seen around 12900 mark. Probabilities remain high for a bearish reaction here. DAX wave structure remains clear with larger degree Waves (1) and (2) in place around 8200 and 13300 respectively. If the above holds well, Wave (3) has already resumed and has also carved lower degree Wave 1 and potential 2 around 12250 and 13000 respectively.
Remain short, stop @ 13800 target is open.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain short, stop @ 13800 target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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