2025-02-05 - priceactiontds - daily update - dax

Good Evening and I hope you are well.

comment: Strong bull trend from the open and I now have several measured moves that lead to 21800 and 22k. It would be surprising if bulls could not get it tomorrow or Friday. Can only get bearish again below 21550ish.

current market cycle: bull trend until we get a daily close below 21550.

key levels: 21400 - 22000

bull case: Bulls continue with higher highs and higher lows but the highs are barely higher. They will likely get another ath over the next 2 days but the upside will probably be very limited around 22k. Pullback has to stay above 21550ish but best would be to stay above 21600.

Invalidation is below 21400.

bear case: If bulls can not claim 21800 tomorrow, I do think we have a decent chance of a big reversal but for now, bears have completely given up and they need a bull trend line break to turn market neutral again.

Invalidation is above 22100.

short term: Bullish for 22k if we stay above 21550ish and if we get 21800 tomorrow early. 22k is possible over the next 2 days.

medium-long term from 2024-01-25: No more bullish talk. Full bear mode.

current swing trade: None.

trade of the day: Buying anywhere I guess.