Having made a higher low on Friday, the DAX rallied above its 21-fourhourly EMA. I remain bearish for now, though. The rally showed clear signs of hesitation, evidenced by those long upper wicks. And, the price remains firmly below its 55-fourhourly EMA. Renewed downside back to 7118.7 is my near-term call.
A reversal around the 55-fourhourly would be my ideal entry-point for shorting today.
| SUPPORT | RESISTANCE |
|---|---|
| 7220.9 | 7413.4 |
| 7183.2 | 7383.4 |
| 7105.4 | 7311.4 |
| 7054.4 | 7267.8 |
