Bears lurking on DAX30? 2017 end on major support at 12800 levels while Angela Merkel isn’t able to build a new Government with a renew “grand coalition”. Talks with SPD will start again on January 7 but at the moment
As said of becoming of July in the monthly forecast, DAX30 trend has become bearish and more downside ahead next week. Let’s see technical levels for trading. Remind also that more EURUSD rising is confirmed with 1.21 as a target
Last week DAX30 has started its bearish correction breaking below 12520 with a close at 12372. Draghi’s words last week impressed equity market for its hawkish tone. Probably QE normalization program with tapering is coming next months and profit taking
Last week thanks to first ballot result in French Presidential election, equities market endorsed Macron candidate like a potential winner to become new President of France in the second round of the election which will be held on May 7.
Last Thursday DAX 30 closed at 12086 and opened a new bearish trend after rebound stopped at 12268 where sellers got control. Selling pressure may increase next week as long as price will be below 12133.