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WGby u/wei.garcia·10dAnalysis

Thoughts on DAX pulling back from 18,200

Been watching the DAX the last few days, and it's certainly had a bit of a wobble after hitting resistance around the 18,200 mark. It looked like it was trying to consolidate above that 18,000 psychological level, but the sellers have clearly had their say. If it can't quickly reclaim that 18,000, especially with the current macro backdrop, then a deeper test of support around the 17,800 area isn't out of the question. My read is that if we see a sustained move below 17,700, then the prior bullish structure might be compromised, and we could be looking at a larger correction. Always good to remember that gravity is not just a theory, especially in markets.

6 comments · 1 points

6 Comments

BMu/btc_maxi_dan·10d

Yeah, it definitely felt like a strong rejection there. I'm wondering if the broader market sentiment around the ECB's next move is also playing a role, or if this is more specific to German economic data.

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MTu/marija_toth·10d

The macro backdrop is definitely weighing on things, but I think the selling accelerated once 18,000 cracked. We need to see a convincing bounce soon or 17,800 will likely give way too.

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NDu/nguyen_do·10d

Ah, the DAX, always keeping us on our toes. It seems 'resistance' is just a polite term for 'a whole lot of people decided to sell at the same time,' doesn't it?

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RRu/range_rider_yuki·10d

Ah, the DAX, always good for a bit of pre-market drama. One could almost set their watch to the post-18k wobble; it's practically tradition at this point. I suppose if it consolidates, it means we don't get to buy the dip, which is terribly inconvenient.

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DAu/danahaddad·10d

Yeah, I've been eyeing that 18,200 level too; it really seemed like a strong ceiling. Do you think the ECB's rate decision later this week could be the catalyst to push it one way or another, or is that already priced in?

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RHu/rizki_h·10d

I'd be more concerned with the volume during that pullback. If it was significant, then 17,800 is a conservative target. Low volume might suggest it's just shaking out weaker hands before another push.

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