Thursday 16 May 2019

Xetra Dax consolidating after strong Q1 rally! Downside risk: 11739!

Xetra Dax index is consolidating after a strong rally in Q1. There was a profit taking sell signal recently, and the index is now looking for support at key levels!

From a cloud chart perspective the index ran into resistance at the top end of the cloud chart resistance zone 12328 on the weekly cloud chart!
Downside risk towards front cloud support zone of 11739/11125!

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