DAX30 - Rising trend line breached
DAX's failure to take out 10,108.25 (38.2% of Oct high-Feb low) throughout last week and yesterday, which also marked a failure to take out falling trend line resistance and rising trend line resistance has reinforced bears.
A day end closing below 9796 (38.2% of Feb low-Apr high) would add credence to bearish developments mentioned above and open doors for a drop to Apr 7 low of 94847 levels.
Bearish invalidation is seen only if prices see day end closing above 10,106.93 (May 10 high).
A day end closing below 9796 (38.2% of Feb low-Apr high) would add credence to bearish developments mentioned above and open doors for a drop to Apr 7 low of 94847 levels.
Bearish invalidation is seen only if prices see day end closing above 10,106.93 (May 10 high).
