The DAX has finally broken through the 12637 level and broken clear of the recent trading range and is now bullish again. It is likely that the positive influence of US Federal Reserve Chairman Jerome Powell, had an impact.
Recent price action on the DAX can be compared to a compressed spring. Just like when you press on a spring, there is a build-up of potential energy (coiling) which turns into kinetic energy (movement), well we saw the DAX’s ‘spring’ unload yesterday and jump through resistance with strength.
I was bearish below 637 and now I am looking for a move towards 833.
18-07-2018 Dax Technical Analysis Video
18-07-2018 Dax Charts
