DAX downside to resume
Bearish signals on the week and for Tuesday have been confirmed, but with intraday sentiment oversold near April’s low and with Tuesday’s bounce forming a small Hammer, Wednesday’s signals pointed to a temporary profit-taking recovery. This is exactly what has occurred, investors buying the dip, but for initial gains of 100 points to be mostly given up. This is negative and signals for Thursday revert to bearish.
Management and risk description
Allow room to sell rally and lower stop to entry if the first target is met.
Entry: market and 9573.0, just in front of yesterday's close.
Target: 9394.5, March's low and 9200.0.
Time horizon: today only.
— Edited by Gayle Bryant