After a long time new post.
Everything is changed and Dax and several others indices entered in a bear market and for good.
We are experiencing very high levels of volatilility with the Dax topping 1000+ pips a day.
Things will calm down but this wouldn’t mean a rapid recovery. At all.
In the following charts I pointed out the two major supports and resistances now in play. 8700 is the ultimate barrier.
Under that number they will not allow short trading anymore. Then 10450 is now a major historical resistance.
The conditions are extreme because of the covid 19 and situation is evolving by the day.
In the H1 chart are plotted the same levels showing also the gaps.