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Non-Tech : Trends Worth Watching

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From: Market Chartist	5/14/2020 1:53:36 AM
	of 3363

German DAX at a turning point for a deeper correction back lower? We think so ... Day trade outlook: Plunge signals a more bearish threat A plunge lower Wednesday through the 10535/519.5 support area, plus to prod below the Triangle tentative trend line support from April, to reject the positive forces from the early May rebound from 10367.5 after the strong, late April rally through the mid-April peak at 10811.5 (to 11337), to flip the risk lower Thursday. We see a downside bias for 10367.5/322, then 10223.5; a break below maybe aims for 10165/144, maybe 10080.5 and even 10000. But above 10616 targets 10703.5, maybe even towards 10774. Intermediate-term outlook The late February plunge below 13219 signalled an intermediate-term shift to a bear trend. Downside risks: We see an intermediate-term bear trend and risk for 7422 and 7000/6948. What changes this? Above 11417.5 sees an intermediate-term range and through 12275.5 an intermediate-term bull trend. You can see more analysis and reviews on stock indices and Forex here

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