DAX 30:breakthrough over the MA200, resistance levels, dangerous for long positions

DAX 30 is in up trend.

The short-term move is long. The price is in the mapped channel. Although today’s rise, the index moves to resistance levels and 50% correction of the Fibo in mid-term negative move. It’s dangerous for new buys.

Long positions only on the downside of the channel, because of the high vollatility expectations by the end of the month and the Friday’s NFP data.

The speculations over the stock market remains, possible moves in the two directions. We expect instabillity on the market to remain in January, which will provide high vollatility. New long positions only at support levels.

 Varchev Traders

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