PROs:
Still well inside a multi-year ascending channel
Sharp quick recovery from last months low
Smart Money Hedgers have increased there bullish exposure
Small speculators are betting on a decline
CONs:
Multi-year reliable trendline in play
Monthly 61.8% Fibonacci level also in play
Report:
For a longer-term outlook, this basic Germany 30 (DAX) chart more or less says it all. Yes, we are still inside a multi-year ascending channel, but the major decline of late is obviously cause for concern. Coupled with that, the global economic outlook is uncertain to say the least.
Bottomcatcher’s Opinion: From a technical standpoint, above trendline resistance and 61.8% Fibonacci level is where you could consider going long for the medium to long term, with a stop loss at mid 102s. (below December 2018 lows). Alternatively, If resistance holds, another leg lower is to be expected.
Still well inside a multi-year ascending channel
Sharp quick recovery from last months low
Smart Money Hedgers have increased there bullish exposure
Small speculators are betting on a decline
CONs:
Multi-year reliable trendline in play
Monthly 61.8% Fibonacci level also in play
Report:
For a longer-term outlook, this basic Germany 30 (DAX) chart more or less says it all. Yes, we are still inside a multi-year ascending channel, but the major decline of late is obviously cause for concern. Coupled with that, the global economic outlook is uncertain to say the least.
Bottomcatcher’s Opinion: From a technical standpoint, above trendline resistance and 61.8% Fibonacci level is where you could consider going long for the medium to long term, with a stop loss at mid 102s. (below December 2018 lows). Alternatively, If resistance holds, another leg lower is to be expected.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.