DAX ended the correction at 12070 as predicted and hit all targets as far as strong resistance at 12650/660. Come on – what a call!! We topped exactly here and obviously the first challenge for bulls today. I think we can eventually break higher for 12730/740 and the most important resistance of the day at 12800/820. If this holds it is clear we are in a bear trend. Shorts need stops above 12870.
Failure to beat first resistance at 12650/660 targets 12550/540 then support at 12450/430. A good chance of a low for the day but a break below 12350 risks a slide as far as 12310 and 12190/180.