Trade Recommendation, June 16th | Hacked: Hacking Finance
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Trade Recommendation, June 16th

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Trade Recommendation, June 16th

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This article was posted on Friday, 15:17, UTC.

DAX: Short-Term Sell

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DAX, 4-Hour Chart Analysis

The weakening momentum, the negative seasonality, and the weak bounce off the Thursday lows justify a short-term short position in the German index, as we expect further correction in global stocks. The strong decline in the leading names of the NASDAQ is still affecting equities globally, and that could fuel a risk-off period with valuations still being elevated.

The 12,800 level is the short-term resistance for the benchmark, while a drop below 12,650 would open up the way towards 12,500 and 12,375, with an expected break below the rising long-term trendline. A re-test of the 12,250 level is also possible in the coming weeks.

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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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