Dax rallies continue to attract sellers

Double top formation warns of further losses

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Technical Monthly: Looks to be forming a bearish Ending Wedge pattern. A break of trend line support at 12048 and the measured move target is 8695. Rallies have stalled and found sellers near 13200, resulting in a new trend line resistance. Shooting star candles highlight rejections of attempted rallies. Weekly:  Looks to be forming a bearish Head and Shoulders pattern. A break of 11633 ...
CategoriesDAX30, Trade Ideas

Steve has traded and analysed financial markets for over 30 years. He started on the Baltic Exchange with Cargill Investor Services in 1987 trading Commodities. Following this Steve went on to work in a number of senior trading roles on LIFFE. From 1995, Steve then traded his own account, specializing in European Fixed Income markets. For many years he ran his own proprietary trading company, facilitating and educating traders. In 2012 he joined PIA-First and assisted in restructuring the company and help build it into one of the UK’s leading, award-winning independent research houses.