DAX extremely bearish price targeting new lows

Nenad Kerkez Top-XE

DAX is extremely bearish. Yesterday free fall in Equities might be the start of a reversal in stocks and we should see the bearish continuation.

There are 2 POC zones where we could expect a rejection from. The first POC zone 12727-800 is close, but we can see a bearish order block adding to the confluence of 23.6, W L5 and D L3. A deeper retracement should lead to 78.6/88.6 zone 13143-13228 and heavy selling should occur there within the POC zone. Targets are 12466, 12312 and 12054. The market is trending now so bearish continuation is expected.

The analysis has been done with the CAMMACD.Core System.

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Author

Nenad Kerkez

Top-XE

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