DAX - Daily - The pop never happened. Change of plan.
So last week we never broke that upper trend line of the channel. It played as a strong resistance level. We are balancing around another key support level which is 11935 (previous low).
If we close below it, then I will be looking to test the bottom trend line of the channel, or at least get close to it.
But if we will rebound from 11935 today or tomorrow, then it is possible for DAX to go and try to test the upper trend line of the channel.
Another thing that would help DAX would be a weaker Euro, which isn't quite happening right now. But let's wait and see.
As always, keep an eye on the price action!
If we close below it, then I will be looking to test the bottom trend line of the channel, or at least get close to it.
But if we will rebound from 11935 today or tomorrow, then it is possible for DAX to go and try to test the upper trend line of the channel.
Another thing that would help DAX would be a weaker Euro, which isn't quite happening right now. But let's wait and see.
As always, keep an eye on the price action!
