DAX sell

Time to take profits for DAX buyers

16 August 2022 376
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The DAX index of the German stock market has already risen by 12% from its annual minimum, which was set in July. It has been recently managed to close a huge June gap at the levels of 13650-13750. Subsequent growth attempts are met with a growing resistance from the bears.

The Stochastic indicates an overbought condition, and the Harami cross enhances signals of the DAX reversal. In case of decline, sellers might set the levels of 13500 and 13300 as objectives.

This content is for informational purposes only and is not intended to be investing advice.

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