DAX Xetra (cash index)
After the two bull candles that ended the first quarter of the year on a relatively positive note, the bulls have stumbled today.
Will this once more be a rally that the bulls use as yet another chance to sell?
The resistance of a near term pivot at 12,162 has come back into play as the market has dropped back early today back below 12,000 once more.
This round number is also something of a near term pivot too and closing back below 12,000 would be a disappointment now.
The daily momentum indicators all remain negatively configured and add to the sense that rallies will continue to be seen as a chance to sell.
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