Friday, April 3, 2015

DAX Context - 03/04/2015

Yesterday"s price action was a little tricky. The momentum of the 1 and 4 hours charts are in the neutral zone, while the daily momentum is in the bullish support zone, but under the 9 period moving average. The daily time frame still offers a bullish slingshot opportunity, but it is not triggered yet. The MA10/20 channel still provides support.

Due to the holiday today will most likely be pretty much dead. I do not plan to open any position. I still anticipate at least one attempt to reach the ATH as part of a bigger correction, especially if the market stays above yesterday's low. I think it's time to be patient with the big picture and wait for the next week to see how the market will open after the holiday.
h1-h4-d1 charts

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