DAX surprised the market this morning to start on upside and buyers willingly bought before the voting in Parliament which was expected to give a positive outcome. Buy on the rumor and sell on the result.
Anyway the DAX have a gap at 5404 which I expect to be covered quite soon. Today's top was 5705 and the close came in at 5629.
The technical picture of DAX is a very good for a start of an uptrend since the 8 week MA is poised to turn up within two weeks unless something else suddenly happens. The DAX has fallen in five waves and it seems to have created a good basis for an uptrend. This is the last trading day for the month and I will have analysed the close of the month when I write the next blog during the weekend.
I am still looking for 5404 area for a buy if the tendency I see is correct.
Happy October
Anyway the DAX have a gap at 5404 which I expect to be covered quite soon. Today's top was 5705 and the close came in at 5629.
The technical picture of DAX is a very good for a start of an uptrend since the 8 week MA is poised to turn up within two weeks unless something else suddenly happens. The DAX has fallen in five waves and it seems to have created a good basis for an uptrend. This is the last trading day for the month and I will have analysed the close of the month when I write the next blog during the weekend.
I am still looking for 5404 area for a buy if the tendency I see is correct.
Happy October
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