New wave coming

٢٦ يونيو ٢٠٢٠

It was hard to wait for the end of COVID historical rally. Dax has just been rising and rising against the macro trend crushing. Now it seems Dax has already found its peak. What's more, built up a lower high by a correction rising in wave ((ii)). At the moment the rising correction channel is about to break down.

So I expect a downturn and a strong falling. The objective could be below the COVID bottom, but if we believe in the bull view(we are beyond the difficulty) then I would expect a decline to 10.000 as a healthy correction before the new highs.

Any trade above 12930 open a space to the previous high where the next strong resistance lying.

Important
Always use stop order, cutting losses, this is one of the essential elements of your risk management and if you would like to be an independent investor then you must be the master of risk management.

Disclaimer
Reserved the right to make changes the content on this analysis at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions.