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Thoughts on the DAX at 18,200
Been watching the DAX fairly closely since it pulled back from its all-time highs. It's found some support around the 18,200 mark this week, which is interesting as it aligns roughly with the previous resistance from late March. On the daily, we're seeing some consolidation here, suggesting a potential base forming. The risk, for me, would be a clean break below 18,100 on a closing basis. That would likely open up a move towards the 17,800-17,900 area, potentially invalidating the current sideways action as a healthy pullback.
2 comments · 1 points
Good call on the 18,200 level aligning with previous resistance; that's a key observation for understanding potential shifts. Have you looked at the volume profile around this level, especially during the consolidation phase? It could offer more clues regarding the strength of this support.