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O’Hare: Bullish run ends for the DAX
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With increased pressure on the DAX, Steve O’Hare is looking to sell the index this morning.
The “pressured” price action on the DAX yesterday created a bearish hanging man formation, which serves as a warning sign that the bullish momentum for the DAX may have hit a wall. The current push higher is expected to continue breifly to 9750 or 9780; at which point, Steve is looking to set shorts at the right wing of this bearish bat formation.
He is waiting to sell at 9780 with price targets of 9700 and 9630. A stop can be placed at 9815.
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