DAX 30: Mid term consolidation is still active and price in the upper part of the right shoulder.
While price keeps between 10800 - 10242 we still trade consolidation.
Double top at levels of resistance 10800
Price action formation Pincers for probable downward impulse.
Divergence - Indicators (RSI and DeM) signal for decline in price.
Except the short signal, we must stay cautious because US markets are still closed and sentiment keeps positive.
This is why opening a position now is risky and we should wait for a correction for a smaller stop loss.
Only break above 10800 and 3 closed bar above this level will change sentiment to long.
Stefan D. Angelov - Head of Stocks trading
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