There is not that much to say about this chart, no need for indicators either. I believe that all European markets are going to rally in the coming days, couple of weeks. Dax seems one of the strongest, because it shows relative strength.
Price broke down local support at 9800, everybody got very bearish. Today we got again back over that S&R level and I believe we are due for a rally, especially if we look at the weekly chart which stands at value! We are still in a bearish divergence, but the way the wave acts as support can't be ignored and there's a chance that this correction was all the bearish divergence had to offer. I expected a heavier correction, but it looks like this is all we got.
Weekly here :
This goes for all European markets!
Price broke down local support at 9800, everybody got very bearish. Today we got again back over that S&R level and I believe we are due for a rally, especially if we look at the weekly chart which stands at value! We are still in a bearish divergence, but the way the wave acts as support can't be ignored and there's a chance that this correction was all the bearish divergence had to offer. I expected a heavier correction, but it looks like this is all we got.
Weekly here :
This goes for all European markets!
