The year started 12.889 and the DIVA found its peek @ 13.600! (Thank you Trump for your Tax-promises which made that possible! ;-D)
Since then the DAX has created the first double-top and turned out to be a S/H/S or Diamond-Pattern which is the first evidence of a trendchange. It`s crazy, but after the Break through the NEckline we`ve seen another attempt called the retest or Kissback to get above 11.800 again.
That bounce and S&R-Flip was the confirmation for the market to sell-off the Diva and went down to the years-low of 10.284. HA but look - we could fight our way back to the 61,8% retracement-level which is obviously a very common level for the bulls.
It`s been a long time since the market has been oversold like these days. When is the time for a correction? Well - My opinion - I think it`s time to see the DIVA trying to get above 10.829 - 11.100 is possible!
The last weekly candle is a huge Doji, which indicates a lot of Buy-Pressure caused by the U.S. Market.
Overall the chart looks pretty bearish, but the price is very low and I think there might be some bulls in the tank trying to buy this one.
We will see!
I WISH YOU GUYS A HAPPY NEW YEARS EVE! Enjoy the time with friends and family! -----------------------------------------------------------------------------------------------------------
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades Irasor
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