17082023 - #DAX
Yesterday, market rallied as per my level to the exact resistance (tradingview.com/chart/DE30EUR/PEcUnCxO-16082023-DAX/) and held there for like hours before it finally faltered. TBH when US indices made a dip and rallied, DAX was rather strong and thus was expecting a possible move to the upside. But instead it just ranged and eventually faltered on FOMC meeting minutes.
With yesterday's down move, price is overextended, in terms of price action. and there is a bullish divergence on H4. IMO, bearish as it is, it is possible to try another long if market reclaims 15685 (support but now as resistance). Will be watching that level for a possible move to BZ and maximum yesterday's high near 15801 and possibly that is all for the safe upside for a possible down to 15589 next.
If market just continue to go down, 15517 is good for a long. And just to say here, yesterday's SPY option point to a possible close of SPY at 445 or even higher but we got the sell. Could w really close at 445? It all depends on today.
With yesterday's down move, price is overextended, in terms of price action. and there is a bullish divergence on H4. IMO, bearish as it is, it is possible to try another long if market reclaims 15685 (support but now as resistance). Will be watching that level for a possible move to BZ and maximum yesterday's high near 15801 and possibly that is all for the safe upside for a possible down to 15589 next.
If market just continue to go down, 15517 is good for a long. And just to say here, yesterday's SPY option point to a possible close of SPY at 445 or even higher but we got the sell. Could w really close at 445? It all depends on today.
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Feragatname
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