Europe under pressure - DAX30 Short?

24.05.2018 / 09:56

Varchev Finance Dax30 Short expectations

Rating:

The European session start with decrease, most notably in Germany. For the second consecutive day, negative moods are dictated by emerging worries about a trade war between the US and China. If we look at the German DAX30, cash flows again sharply declined and remain in negative territory, and the price reverses and tests a short-term support area.

The technical index failed to break through the resistance zone and the current Price Action clearly shows the negative sentiment. From the point of view of the indicators, the Sequential counts a unit below and forms an arrow above, and DeMarker goes out of the over-purchase area, pointing downward - a heavily negative signal. For risky traders, the current levels are very comfortable for Short with Stop Loss over the resistance zone.

Trader Petar Milanov

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Europe under pressure - DAX30 Short?

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