(CercleFinance.com) – The DAX ricochets below 13,400Pts (resistance level of September 12) after having partially lifted the medium-term oblique resistance which is gravitating towards 13,200Pts: the scenario is that of a breakout (from above) then reintegration of the downtrend channel.
In other words, a ‘bull trap’ which, moreover, is similar to a somewhat unusual bearish harami since during 3 sessions, the opening and closing took place at the same level… before opening a rupture ‘gap’ under 13.255, followed by a test of 13.100Pts.
The next downside objective becomes 12.630, the ex-low of September 1st, the next one coincides with the ‘gap’ of 12.380 of October 13th.
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