I hope everyone had a great week. As normal, I like to do my homework/analysis on Saturday or Sunday night as the market is closed and I am relaxed.
Here is my RSI trend line analysis:
In this list, you can see my analysis on Monthly and Weekly time frame only. I am not showing the Daily and 4 hour because is very short term and probably most of you will see this post just tomorrow.
However, as you can see the $DAX broke its RSI's trend line on the Monthly and Weekly graphs. This is a very powerful alert that a bearish move is to come.
Is it time to sell $DAX? I think so but keep in mind, this is a powerful market and you should know your stop loss before entering a trade. I will look for pullbacks to sell when it comes.
Here are the graphs:
Monthly:
*Click on the image to expand
By Thiago Duarte
Chief Strategist at Duarte Investment Group
thiago@duarteinvestmentgroup.com
@thiagotrader
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