The DAX confirmed a very weak closing yesterday keeping also the gap down area.
Since last week surprising move up the DAX formed 2 gap downs now resistance but only one was closed before extending the decline. The one open is at 6098 – 6045.
The indicators of the daily chart are still positive but now close to the line. Those of the s/tones are instead below the line after the selloff we had yesterday. While below 5950 we could see a retest of the low at 5767.
We remain on the sideline while waiting for stronger signals. Possible rebounds are however corrective even if the drop failed yet to form divergences in the hourly chart!! We expect resistance at the 200 hours line at 6019 before the gap down area.
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FUTURE TREND RESEARCH