DAX's failure to take out 10,108.25 (38.2% of Oct high-Feb low) throughout last week and yesterday, which also marked a failure to take out falling trend line resistance and rising trend line resistance has reinforced bears.
A day end closing below 9796 (38.2% of Feb low-Apr high) would add credence to bearish developments mentioned above and open doors for a drop to Apr 7 low of 94847 levels.
Bearish invalidation is seen only if prices see day end closing above 10,106.93 (May 10 high).
A day end closing below 9796 (38.2% of Feb low-Apr high) would add credence to bearish developments mentioned above and open doors for a drop to Apr 7 low of 94847 levels.
Bearish invalidation is seen only if prices see day end closing above 10,106.93 (May 10 high).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.