DAX : bullish trend intact UT4H, long favored
After two rounds of profit taking before the FOMC, the DAX holds the 11,800 pts area but mostly remains in its upward channel, the lower band played its role on numerous occasions.
The uptrend still intact argues for taking a long position, stop below recent lows at 11800 pts. If this threshold were to be broken, then the uptrend would be in question with the key consolidation over several sessions.
A long can be opened in the current area to over 11,930 pts, stop below 11,800 pts, with a view 12220 pts and 12,400 pts, the upper limit of this channel. The stop can be adjusted during input from 40 pts unrealized gain.
The uptrend still intact argues for taking a long position, stop below recent lows at 11800 pts. If this threshold were to be broken, then the uptrend would be in question with the key consolidation over several sessions.
A long can be opened in the current area to over 11,930 pts, stop below 11,800 pts, with a view 12220 pts and 12,400 pts, the upper limit of this channel. The stop can be adjusted during input from 40 pts unrealized gain.