DAX at Resistance - again...
- German economy is not in its best condition ever, no signals for rapid change in this matter
- hiper optimism is still present out there and no signals it is going anywhere
- technical levels work only if many traders observe them,
- technical levels dont work if traders just buy without giving it a single thought - which is happening right now
- thus this technical level will most likely be broken and DAX will add more gains...
But you can keep in mind, that technical resistance @ 16950 is created by two Fibo Ext levels:
* FE 61.8 of the impulse starting at the bottom of pandemia (green)
*FE 0.5 of the impulse starting on Oct 22 2022 (yellow)
Do you thing DAX will respect this resistance or it will ignore it?
- hiper optimism is still present out there and no signals it is going anywhere
- technical levels work only if many traders observe them,
- technical levels dont work if traders just buy without giving it a single thought - which is happening right now
- thus this technical level will most likely be broken and DAX will add more gains...
But you can keep in mind, that technical resistance @ 16950 is created by two Fibo Ext levels:
* FE 61.8 of the impulse starting at the bottom of pandemia (green)
*FE 0.5 of the impulse starting on Oct 22 2022 (yellow)
Do you thing DAX will respect this resistance or it will ignore it?
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