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#1 06-09-2017 16:27:21

johnedward
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From: Paris - France
Registered: 21-12-2009
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DAX30: German index could still decline before rebound this month

DAX30: the German stock index could still decline before rebounding before the end of the month (UBS)

     

http://www.forex-central.net/forum/userimages/ubs.png


UBS believes that the DAX30 may still retreat before rebounding later in September.

"Last week's DAX30 rebound was limited by the short-term trendline.

From a timing point of view, it is too early to see an immediate break given our projected cycle low later in September.

Short-term support comes at 12000/11935, although we consider the 38% retracement at 11525 as the worst case scenario for a decline in September, and where the DAX30 would provide a strong buying opportunity."


"Anything worth having is worth going for - all the way." - J.R. Ewing

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