Instrument: DE30
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 15855.6 with take profit at 15890.6.
Bearish Preference:
Sell position is envisaged if price trades below 15731.0 with take profit at 15695.9.
Fundamentals:
No major Fundamental
Comment: The German DAX traded higher on Monday after it hit support near 15100 on Friday. That said, the recovery was stopped by the 15330 level, still below the downside resistance line taken from the high of Nov. 19. As long as the index continues to trade below that line, we consider the short-term outlook negative.
Analysis: SCRUM Team
