I was expecting DAX to test 7050 level in the early days of this week, as such according to my expectation DAX also dropped in the later days below 6800.
Now it is in over-sold position, but still picture is not clearly saying that we are going to see a new uptrend. In fact it is making lower highs and lower lows trend. What I think that it may test lower levels in coming days but before that it has a small chance to test level around 6950. Here I cannot say for sure (like earlier weeks) that it is going to do that in early days of the coming week, especially considering Friday’s US jobs report.
Though it is not clear but looks like it is making a pattern and I will think about that if it bounces back from around 6600 level. Now in case of any big sell off the important level is at 6200.
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