Black lines - Fibonacci retracements
Blue lines -bearish RSI divergence
DAX is trading around 13,100 price level. Short-term trend remains bearish. Since our last analysis on April, DAX continued lower as expected after the rejection at the neckline resistance at 14,800 price level. DAX retested the neckline resistance for a second time two weeks ago and got rejected once again. The inability to break above 14,800 is a sign of weakness. Support is at the 38% Fibonacci retracement. Price action remains weak as price continues making lower highs. A break below 12,430 would be a new bearish signal. If price breaks this support, we should then expect to see it near 11,300 which is our initial target after breaking the neckline resistance.
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*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。