Chart of the Day DAX

DAX is in the long-term rising wedge

DAX is rejected again by the 12600 level and this could lead to a fall into 12100 lower rising wedge line. Any pullback higher into 12600 in this stage should lead to a short trade build-up and a close below the 12350 would open a key 12100 level breakout test. Only a daily close above 12750 would lead to an extension higher. ARMAT trading system is pointing lower.

Note: look for the short trade opportunities with the stop loss above  12500

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