DAX30 Might Drop as The Price is Overbought

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear Traders,

The DAX30 is bullish but it is at important resistance. We might see a drop as signaled by the pink dot on the chart.

13500 zone might cause the price to drop towards lower levels. Despite the bullish domination, we can see that W H3 and M H5 are just above the price. Targets are 13400, 13300 and eventually 13113. Watch for a move down as long as the price is kept below 13668 – monthly camarilla resistance level. The intra day target is 13334.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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