Today we have third bullish session on DAX and price reached to important resistance at 9,790 pts. In this place Tenkan-sen, Kijun-sen and Kumo top are connecting. What’s more, Chikou Span is at resistance and max range is set by Kumo low right now and on the chart 7/8) 9,843.8 pts line. Breaking this resistance will mean another test of 10,000 pts area. On the other side if this resistance will not be broken, tomorrow we should see trend reversal to Senkou Span B 9,421.3.
You can read Ichimoku strategy description here.
Looking at daily chart we can notice that price is getting close to third level of balance – Senkou Span B 9,812. As long as chart will not break this resistance, it will be just a correction of bearish trend. Decrease below Tenkan-sen 9,678.5 will be sell signal to (0/8) 9,375. Close of daily candle above Senkou Span B will negate bearish scenario for the next few sessions.
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