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DAX: Weekly Overview! Chance to get back to 12k!Years-End-Rally?

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Hey tradomaniacs,

we had a very rough time and there are still a lot of political concerning circumstances against my assumption.
It looks like the market trys to grab every chance it can get to buy DAX for such a low price.

The german market was able to prove its sentiment within the last week since the US-market was in "Holiday" and
gave us no impulses to follow during the Wallstreet-Session. The market was just uncertain and didn`t move at all.

What does that mean?

It seems like the german / european market has no own opinion about the current situation.

Are we waiting for actions of Trump and the white house?
Are we waiting for sales numbers after the black friday?
Are we waiting for the Brexit?

There are 5 important upcomig events next week:

1. Trump-Xi Meeting
2. Brexit Developments
3. FED: Powell Speaks
4. U.S. 3Q GDP - Second Estimate5
5. Euro Zone Flash Inflation

Technical situation:

As you can see, we are currently in a situation which looks like a decent correction after the impuls-phase
that started in Feb.2016 and ended in the beginning of this year.

Since we were violating 12.000, the market is still very bearish and could continue the joruney.

Technically it`s pretty likely to see a retracement in order to create the WAVE B of wave (Y)
to retest the golden and psychologically very important mark of 12.000.

The market could prove it`s creed and should give us a clear direction forcing more market-players to react.

We still see a double-bottom @ 11.000 with a neckline @ 11.687! If we trigger that pattern we could
head to the big battlefield at 12.000 and find the path the DAX really wants to go.

Remember: The seasonality is great! The years-end-rally could give us nice chances to buy the market.

And as often, the END-BOSS will activate the "Rage-mode" before he capitulates! ;-D

But yeah, everything CAN HAPPEN.

Have a nice start into the new week!

Peace and good trades
Irasor

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