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DAX30 Might Drop as The Price is Overbought

By:
Nenad Kerkez
Published: Jan 15, 2020, 10:16 UTC

Dear Traders, The DAX30 is bullish but it is at important resistance. We might see a drop as signaled by the pink dot on the chart.

DAX30 Might Drop as The Price is Overbought

13500 zone might cause the price to drop towards lower levels. Despite the bullish domination, we can see that W H3 and M H5 are just above the price. Targets are 13400, 13300 and eventualy 13113. Watch for a move down as long as the price is kept below 13668 – monthly camarilla resistance level. The intra day target is 13334.

The Analysis has been done with the CAMMACD.Core and Sit Systems

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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