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Yesterday's high low during cash hours was 279 points.
Today the DAX future rests near today's Pivot Point @ 12761 with moves in direction south.
This intermediate relief might be holding not long - perhaps we can see some high vola today again:
As price waded south thru daily Kumo we see a heavy resistance to the up!
Therefore a further move down today is highly probable.
Good evening GFIs1,
In your post from 14-11-2016 you suggested to stay on the sidelines during the elections. How do you see the DAX going in the next weeks?
Thanks
Dennis
Thanks @ Dennis for the question.
This US election year is very different from that one in 2016. Speaking of the outcome of the election we see it more differentiated between the candidates. Uncertainty is mixing markets up - results can be very difficult to read which often give peaks in the markets up and down in a very short time. Such we had seen in this summer already.
More weight and the fear of uncertainty for the future was indeed the influence of worldwide Covid-19. Economies were threatened in many ways. Thanks to money for nothing from the states a threat of recession (the hard one) had been vanished. Very good numbers in 3rd quarter for large companies around the world - and a China that shines more than before economically - show more stability than expected. In such a field the US elections (unexpected moves from the 45th president were seen all 4 years anyways) seems to be no more difficult for the markets: to make it short - I don't see markets in trouble this time!
Good trades