The German stock market starts cheerfully into the new trading week
The Dax has no time for boredom and continues its way on the upside. Recently, the market knows only one direction and there is a reason for that. In addition to the fundamental reasons (inflation), there are also two trading signals.
Volatility is quite low and the market is continuously rising. On the hourly chart, the hourly candles are small but it is going up on a line. Then today there was a gap on the upside and maybe this was a first exhaustion gap. If we break the green trend line, then the first profit-taking is expected.
The two signals consisting of a Monthly PG and a smaller PG on a daily basis. I guess the larger PG is far from finished on the upside. The small PG on a daily basis, however, has run quite hot. When the retracement comes no one knows exactly but probably we soon form new signals at high levels. Who has not yet taken a position in the market, which may get a third chance.
Source: (Guidants/Godmode Trader) & JFD Broker & Binance
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