Thursday, November 16th brought the and of bad streak on the German DAX index. After five successive sessions, quotes rose by 0.55%. Most of the upward movement was done at the opening, later in the day the market consolidated at maximum.
Growth on the German market, however, appears to be very modest compared to the SP500, which took advantage of Wednesday’s reversal formations and wandered around ATH, which bodes well for the last session of the week.
DAX Intraday
The opening of the session is lower, the 20-pips gap suggests that players are not so optimistic and yesterday’s growth outside the regular trading session is not confirmed.
Before 9:00 we are under a directional point (DP), going above negates the bearish scenario and will allow us to look at higher levels. Falling into 13 025 would be a good test of yesterday’s demand.
DAX Longterm
From the bottom the bulls have already snatched the bears nearly 250 points. The easiest part went smoothly, but now can begin stairs. Monthly Pivot resistance, fast down trend line and maximum October base are ahead.
