DAX Vote 11600 or 10600

Current price action is at 11100
YES vote – 11600 (+500)
NO vote – 10600 (-500)

1) Upper GAP unfilled at 11521 with the 100 DMA sitting at 11542 (coincide close to the downward channel)
2) Still trading within a downward channel
3) Price still trading above the 38.2% 10852 with 50% yet to be breach at 10375
4) Price still trading below the 20 DMA 11183 and has 200 DMA as next support at 10613
5) Daily RSI is still in bullish divergence (for how long?)

Positive conclusion – GAP closed and then break above 11635 is bullish but resistance at 11711 needs to be respected – only then a new ATH is warranted

Negative conclusion – GAP closed but found resistance too strong price reversed and continue within this downward channel


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