Last time I wrote about Gold.
Not much has happened since then.
Gold has been trading in a tight range and looks like there is no bullish or bearish indication at the time of writing this.
`If price reaches down to 1680, this would be an area to closely watch.
For the time being, I will stay put.
Germany 30 (DAX) Trading Analysis 12.10.2021
Today, I am looking at DAX.
It looks like DAX might be getting ready for a new high.
Today’s trading range has been quite tight.
Price is sitting just above a major supply zone.
The question a lot of traders are asking now is whether we will see a re-test of this supply zone.
My expectation is that we might see a drop to that zone.
But before that, there is a possibility that we might see a bounce back higher.
Reason being is there is a daily pin bar, which reflects some bullish readiness.
The question is if this will not be a short-lived buying opportunity.
I will be monitoring the 4H chart and if there is a retracement back down to 15050 and a bullish candlestick confirming this level, I might consider going long.
Until then, I will be waiting on the sidelines.