PROs:
Still well inside a multi-year ascending channel
Sharp quick recovery from last months low
Smart Money Hedgers have increased there bullish exposure
Small speculators are betting on a decline
CONs:
Multi-year reliable trendline in play
Monthly 61.8% Fibonacci level also in play
Report:
For a longer-term outlook, this basic Germany 30 (DAX) chart more or less says it all. Yes, we are still inside a multi-year ascending channel, but the major decline of late is obviously cause for concern. Coupled with that, the global economic outlook is uncertain to say the least.
Bottomcatcher’s Opinion: From a technical standpoint, above trendline resistance and 61.8% Fibonacci level is where you could consider going long for the medium to long term, with a stop loss at mid 102s. (below December 2018 lows). Alternatively, If resistance holds, another leg lower is to be expected.
Still well inside a multi-year ascending channel
Sharp quick recovery from last months low
Smart Money Hedgers have increased there bullish exposure
Small speculators are betting on a decline
CONs:
Multi-year reliable trendline in play
Monthly 61.8% Fibonacci level also in play
Report:
For a longer-term outlook, this basic Germany 30 (DAX) chart more or less says it all. Yes, we are still inside a multi-year ascending channel, but the major decline of late is obviously cause for concern. Coupled with that, the global economic outlook is uncertain to say the least.
Bottomcatcher’s Opinion: From a technical standpoint, above trendline resistance and 61.8% Fibonacci level is where you could consider going long for the medium to long term, with a stop loss at mid 102s. (below December 2018 lows). Alternatively, If resistance holds, another leg lower is to be expected.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.