I am shorting DAX on a combination of failures near 13300 barrier and crucial resistance in the Eurostoxx autos index.
Furthermore, DAX remains under the March trendline resistance, while weekly RSIs are capped at the 60 level, unlike for example the US counterparts that appear slightly less bearish.
Eurostoxx Auto Index approaches the 200-WMA for the 4th time, the last time was exactly 12 months ago.
Further positive Corona vaccine news pose a threat to this trade and could swing overall market sentiment against it.
Furthermore, DAX remains under the March trendline resistance, while weekly RSIs are capped at the 60 level, unlike for example the US counterparts that appear slightly less bearish.
Eurostoxx Auto Index approaches the 200-WMA for the 4th time, the last time was exactly 12 months ago.
Further positive Corona vaccine news pose a threat to this trade and could swing overall market sentiment against it.