Dax – Breaks Key Support, Bearish Below Corrective Structure | Sep 22

German Dax – Breaks Key Support, Bearish While Below Corrective Structure (4hr chart)
Today the key German Index broke below the corrective structure base and key support around 9813. This further turns the risk to the downside and suggests and attack on the flash crash lows around 9340.

From there I’m expecting some short-covering and profit taking from the bears, but IMO the price action is bearish while below 9813 and 10,000 on a daily closing basis. Hence keep looking to short while below here.

dax

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