Dax Technical Analysis 02/11/2015
Hello traders! No report today, I am in Worthing and won’t be back in time to complete one. back […]
Hello traders! No report today, I am in Worthing and won’t be back in time to complete one. back […]
We posted a bullish candle last week on the Dax, closing above the 10,000 level and we even attempted to break inside of the bearish trend channel on the weekly chart piercing through from the udnerside and making a high of around 10,500 however we closed below the channel suggesting a rejection.
We are at an interesting juncture right now with the Dax threatening to test the upper range bound after a strong early morning rally. The reason for the rally is likely the release of some decent eurozone numbers; year over year growth increasing 1.5% which is a big number.