DAX seemed to have gain strength as it is relatively strong yesterday; basing off the PZ and going to new highs. But US weakness resulted in DAX pulling back also.
Are we going to get a next leg down now? TBH US indices are more bearish and definitely oversold and thus many would likely be looking for further downside continuation today for US indices.
But IMO, DAX's closure yesterday is not bearish, or even somewhat bullish. Price is between PZ and DBZ, which is neutral to bullish. Overall, I would say to look for further upside; with 15195 as a low risk level to go long, for a move back to yesterday's high (15359) and even further to 15411.
Are we going to get a next leg down now? TBH US indices are more bearish and definitely oversold and thus many would likely be looking for further downside continuation today for US indices.
But IMO, DAX's closure yesterday is not bearish, or even somewhat bullish. Price is between PZ and DBZ, which is neutral to bullish. Overall, I would say to look for further upside; with 15195 as a low risk level to go long, for a move back to yesterday's high (15359) and even further to 15411.
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