DAX Sellers are Rallying to Pull the Price Lower

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

The DAX is going up but it is close to the POC zone, and we can expect a drop. The price is in the zone so a bearish candlestick configuration might be a sign.

A bearish candlestick configuration might be a sign that the market is starting to move down. The POC zone is 13780-13850. We can also see the Head and Shoulders pattern at resistance. Targets are 13544 followed by 13512 and 13428. It is imperative for the price to remain below 13960 for this scenario to remain valid.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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