Another gap on the DAX, this time a bearish one. We start Thursday on the important mid-term horizontal support, which may help to lift the price higher. Why? Because that would be the gap closing movement and we all know that gaps love to be closed, especially on the DAX. The sentiment in the long-term remains negative but in the short-term, we can see this light in the tunnel.
Next one is Gold, where the buyers again tried to break the 38,2% and again they were unsuccessful. That is potentially very dangerous. Double top formation on a 38,2% is never good. Breakout of the neckline of this pattern will give us a strong sell signal.
Last one is the USD/JPY, where the price bounced from the lower line of the symmetric triangle pattern. That is a positive sign, especially that it was done with a double bottom formation, which has good looking long tails. If you are not convinced yet, wait for the breakout of the blue horizontal resistance first.
Add a Comment
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.