This week I would like to check the monthly Dax graph to get a different perspectiveof the market.
Last week the index continue is ranging movement and closed on Friday at 10580. This is nothing new as we can clearly see in the monthly chart since July the market is testing the upper (10800) and the lower (10200) band;is movements are totally hesitant on which way to go. And October seems to follow the very same path.
During next week many companies in the US will report earning, might give some directions. If Dax breaks 10650 it will trigger some long positions. The 10450 level instead will act as short term support for the bulls.
For the time being we are neutral on the short and medium term.
Our long term vision stays bearish
