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DAX – Impulsive Selloff From Corrective Price Action (1hr chart)
On the 17th in the members commentary, we followed up with our call for some bearish selling in the German Dax following our noticing of the climactic price action move into the yearly highs around 12200. As we wrote, the index sold off almost 250 points, the forming a corrective pullback into the dynamic resistance and 20 ema.
We mentioned to expect another impulsive leg down and sellers looking to enter. As you can see from the chart below, this is exactly what …... Keep reading