The daily fork has now been updated on the charts to shift the center line in order to catch frequency.
The market remains in an accumulation cycle however, we remain bullish above 12240. We are interested in 480-500 and 400-440 as potential buy zones.
During the webinar this morning we had a pop through a previous gap and low volume area. The price was sent crashing back with a rejection to reach the daily low and has now recovered trading around 12550. We are carving out a breakout zone as with this pickup in volatility we would expect a break soon. The German elections will also likely provide a catalyst for this recent sluggish price action.
FOMC today and we don’t suggest it’s wise to trade that. But I think many are expecting rates to remain unchanged, which is good for equities.
Dax & FDAX Technical Analysis 20-09-2017
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