Dax : just retracement or is correction started
Sometimes it's good to take a bigger look. At the 1W view we see still an uptrend from 2011.
But MACD is showing divergence. This was also in 2008 and 2011 before a crash. Higher DAX lower MACD at second top.
Fibo's showing 10012 level for an importend level from the 2008 crash.
Important levels to watch.
9917 : first support line ( today) . Break this level means still and uptrend at the weekly.
9400 : next support line. If we break this level we break also the uptrendline.
9000 : Important next level ! If we break this level we change to downtrend.
Now just waiting for the next results season. If the results are not good then we have to be careful .
But MACD is showing divergence. This was also in 2008 and 2011 before a crash. Higher DAX lower MACD at second top.
Fibo's showing 10012 level for an importend level from the 2008 crash.
Important levels to watch.
9917 : first support line ( today) . Break this level means still and uptrend at the weekly.
9400 : next support line. If we break this level we break also the uptrendline.
9000 : Important next level ! If we break this level we change to downtrend.
Now just waiting for the next results season. If the results are not good then we have to be careful .