Europe's largest national economy is that of Germany and ranks fourth globally in nominal GDP. Thus, I like to keep an eye on the DAX to gauge the Markets in Europe. The DAX (German stock index)) is a blue chip stock market index consisting of the 30 major German companies trading on the Frankfurt Stock Exchange.
Monthly Chart (Curve Timeframe) – monthly supply is at $13450 and monthly demand is at $12000. Price came into monthly demand back in March and filled a bunch of buy orders.
Weekly Chart (Trend Timeframe) – the trend is clearly sideways and has been since Aug of 2017.
Daily Chart (Entry) – the only set-up right now is to wait for price to come back down to the monthly demand zone to go long or wait for price to get to the $13200-$13400 to go short where the sellers are waiting.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
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by rollandthomas
