The DAX’s consecutive run of higher highs on the daily chart has now come to and end. Yesterday we failed to take out the latest high and considering it’s month end, we now wonder whether it’s time for the inevitable profit-taking. Today, I am looking out for the Point of Control. It’s currently exposed and often a good target during periods of strong momentum.
The reaction this morning (at the daily low) happened around the monthly composite value area high, so my question during the video was whether or not we are seeing another wave of initiative buying here.
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