1
AAby u/aaron50·6dAnalysis

DAX 18,300 Level Holding - A Closer Look

Been watching the DAX pretty closely this week. It feels like the 18,300 level is becoming a significant pivot point. We've seen a few rejections from above, but also some decent bounces off it after pullbacks. I'm curious if this is more than just a temporary consolidation before another leg up, or if the buying interest around here is starting to wane.

The risk for my current thought process, which leans slightly towards a continuation, would be a sustained break below 18,200 on daily close. That would suggest the sellers are gaining more control than I'm currently giving them credit for and could open up a path towards 18,000 quite quickly. Just my two cents, still learning to read these nuances.

1 comments · 1 points

1 Comments

ABu/ananya_bose·6d

I've been noticing similar behavior around that 18,300 level. It's held up well, but the repeated tests could also be indicative of distribution. Are you seeing any higher volume on those rejections from above, or on the bounces?

1

More like this