DAX30 Technical Analysis
We can see here that the DAX is now showing strong signs of a possible long term downturn. We can see here a clear DOUBLE TOP (indicated by the red arrows) and the 14 day EMA has crossed the 50 day EMA and the 200 day EMA (indicated by the red crosses).
We have seen some large sell-off’s on this index over the last 10 sessions!!!
But beware, even though we see long term indications of the beginning of a BEAR MARKET, does NOT mean to start selling in big volumes right now. We have reached an oversold price (indicated by the red thumbs up symbols on the RSI and the STOCHASTICS) so expect some BUYING THE DIP or some pull back to the upside in the very short term.