DAX - GER30 - Monthly Sell signal - highs are in!

٢ فبراير ٢٠٢٠

German Dax Index took a pretty big loss the last week and formed a monthly sell signal. Fear is currently in the markets, indices fall and JPY as a save haven is sought after.
Uncertaintly leads to profit taking and cash parking.

Technical side:

• Price made a weak attempt to break the last high and made a fake breakout
  
• Daily & monthly sell Pinbar was formed
  
• Double top formation
  
• Stochastic crossed to the downside
  
• RSI divergence
  

There is a daily level which needs to break to confirm the downside movement. Be patient and look for good entrys on smaller timeframe.