DAX daily analyses 27 dec 2016
Use the chart together with the text. They form a roadmap that will guide you through the market wrong date on the chart, sorry for that
Morning folks,
We are starting the last week of the year. At this point we are facing a market that is consolidating in a very narrow sideway channel. But we still see no real bearish signs. Bulls have been tested. But they survived it and are still strong. On a technical level this means we could see a small move down towards 11300. Although this is not needed, we could easily bounce at 11400. The main bullish target remains 11500 with a main target at 11600. Volume will be low again so this will be a difficulte market this week. Therefore we strongly advice to keep positions lower than usual.
Morning folks,
We are starting the last week of the year. At this point we are facing a market that is consolidating in a very narrow sideway channel. But we still see no real bearish signs. Bulls have been tested. But they survived it and are still strong. On a technical level this means we could see a small move down towards 11300. Although this is not needed, we could easily bounce at 11400. The main bullish target remains 11500 with a main target at 11600. Volume will be low again so this will be a difficulte market this week. Therefore we strongly advice to keep positions lower than usual.
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