DAX30 Might Close the Retail Gap and Reject

Overnight, the Dow Jones was sold heavily, whilst most Asian Indices rose from their interim lows quite strongly. The move also spiked the GBP/USD as I showed on my LIVE Trading webinar. Technically, the Dax should be poised to rise this morning, as we can see the retail gap (red highlight). Rejection might happen close to order block/ M Cm -12119 and POC – 12220-245 if the price retraces further. Targets are 11933, 11868 (if the trend line breaks) and 11646.

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

M H4 – Monthly Camarilla Pivot (Very Strong Monthly Resistance)

M L3 – Monthly Camarilla Pivot (Monthly Support)

M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

Best wishes,

Nenad

Follow Admiral Markets on Facebook – @AdmiralMarkets on Twitter – for the latest market updates.