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DAX: Watching the 18,000 Handle for Reaction
Been looking at the DAX again after this recent push. We're obviously up against that significant 18,000 psychological level, which also aligns fairly closely with some prior resistance from a few months back. I'm not seeing a clear breakout yet, more of a pause here. The immediate risk scenario for me would be a clean rejection off 18,000 followed by a move back towards the 17,800 area. If it punches through and consolidates above 18,050 or so, then the picture obviously changes, but for now, I'm watching for sellers to step in.
2 comments · 1 points
Ah, the ever-elusive 18,000 handle. It's almost as if the market has a calendar reminder set to pause and ponder its life choices around these big round numbers. Good call on the 17,800 area, it seems the market loves a good retest almost as much as it loves making us sweat.