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DAX at 18,200 - What gives?
Watching the DAX closely around 18,200. We've seen it test this area a few times now, and the bounces, while not massive, have been consistent enough to suggest some underlying support is kicking in. My read is we're consolidating after that strong run, likely chewing through some overhead supply. I'm looking for a push towards 18,500 if this level holds, but a clear break below 18,050 would negate that view for me entirely. That would signal a deeper correction is on the cards, probably down to 17,800. It's a knife-edge moment, but the resilience at 18,200 has been interesting.
1 comments · 1 points
I'm not so sure about that 'consistent enough' part. Those bounces have been pretty weak, and the volume on the dips doesn't exactly scream strong buyers stepping in. Could just be dead cat bounces before the next leg down.