DAX 30: Correction to 9747 will give us good places for a new long

DAX 30 – again on resistance-median line of Bolinger, which gives us a signal of a possible correction in the morning until 9747 and a new test of the breach of the diagonal resistance. This is the place for new long positions.

The short-term uptrend,after the double bottom of 9614, is still in force, each reduction in the price will be used to fill the portfolios with new long positions. This is why we should wait for the initial negative movement and seek a place for purchases of smaller graphic.

Double bottom? It is still too early to answer this question. The Price broke above 9747, which gives us a new bullish signal. Now, after a slight adjustment after reaching the resistance,it is again time for purchases, we should only have to wait for the price to reach the support on 9747. Than we should move on to a smaller graph to search for places for long. We shouldn’t rush after the price reaches 9747 because the negative pulse can be sharp, so we should wait for the development of the trend.

Varchev Finance

Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance