DAX Analysis (Update)

by: Colibri Trader

Dear traders,

I wanted to make an update to my latest DAX analysis. I have just posted this morning on Twitter that there is a bearish engulfing pattern on the DAX 4H chart. It looks like we might have hit a stronger resistance area than expected. Beware of the daily pinbar, as well. Have a look at the 4H chart below, as well:

DAX Analysis (Update)

The sell-off has started already. Let’s see how far it can go. The way I see it is that this move can extend down to 12,500-12,350.

Happy Trading,

Colibri Trader

p.s.

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