01 Dax Daily Chart

Dax Technical Analysis 19/07/2016

Hello traders!

Just a quick update today, because I can see some sun in the sky, and believe me when I say that in England, this is rare! Very rare!

The Dax opened bearish today and has remained so the whole morning, we are currently experiencing a relief rally and I am considering shorting for a retracement trade. I just need to decide the levels.

We are still in a range for the last few days, but we are really struggling to hold anywhere near the 200 day EMA. The question is whether we are consolidating and base building for an attempt to get back up to 10500 and beyond, or whether we have just been in a period of short covering and this is beginning to give way to the underlying fundamental bias, which is pretty bearish.

So I am still looking for shorts today.

Best of luck trading, speak again tomorrow.

TO THE BEACH!! (Sandbanks)