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Investment Recommendations May 5th

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Investment Recommendations May 5th

Introduction

DAX: Short-Term Sell

 

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DAX, 4-Hour Chart Analysis

The DAX new all-time highs today, following our short-term buy recommendation two weeks ago. The German index kept on pushing higher this week in the face of the overbought conditions and it’s now above the dominant long-term trend line, suggesting a correction in the coming days. Those traders who are still holding on to a part of their longs should consider exiting their positions at these levels.

The second round of the French election might provide a sell-the-news event, as the favorable first round results already caused a surge in European assets. The continued weakness of the broad US indices also warns of a possible correction, with the 12,400 support giving traders a good initial target.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

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