DAX is Extremely Bullish but Close to Monthly Resistance

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

DAX is very strong and it’s in uptrend without big retracements. However, it is getting close to monthly resistance.

M H5 camarilla resistance is important for the next decision where the price will go. 14170-14250 is the zone where rejections might happen and where sellers or profit taking might take over. Targets are 13829 and 13595. Those two zones could make the price bounce. However, for the next move the price will either retrace or bounce above 14251 before any retracement. Selling might be the option at the top.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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