DAX - Short term oversold. Partial TP recommended on shorts
After bearish Kumo break, DAX quickly reached 9100-9200 support zone.
Some indicators have become oversold here, we can expect some pullback to 9450 - 9550 levels.
Daily: Bearish Ichimoku setup with Price and all indicators below Kumo.
DMI bearish with climbing ADX, which means this mkt will likely stay medium term bearish.
However Slow Stoch reached oversold level, and if today we'll have a hammer or doji daily close, then we'll likely see a pulbback to Kijun Sen later this week.
4 Hrs: Price got very far away from Kumo and Kijun Sen. Also ADX is above 50! Slow Stoch turning up from oversold. Even though the big picture is bearish, bears need some rest here I think. Supports are ard: 9450 / 9550.
1 Hr: bearish too, but looks like some kind of bottom building ard 9150-9200. DI lines converging, ADX dropping. Key levels: 9310 / 9430 / 9550.
Some indicators have become oversold here, we can expect some pullback to 9450 - 9550 levels.
Daily: Bearish Ichimoku setup with Price and all indicators below Kumo.
DMI bearish with climbing ADX, which means this mkt will likely stay medium term bearish.
However Slow Stoch reached oversold level, and if today we'll have a hammer or doji daily close, then we'll likely see a pulbback to Kijun Sen later this week.
4 Hrs: Price got very far away from Kumo and Kijun Sen. Also ADX is above 50! Slow Stoch turning up from oversold. Even though the big picture is bearish, bears need some rest here I think. Supports are ard: 9450 / 9550.
1 Hr: bearish too, but looks like some kind of bottom building ard 9150-9200. DI lines converging, ADX dropping. Key levels: 9310 / 9430 / 9550.