Technical Update - GER40 (DAX)
Kim Cramer Larsson
Technical Analyst, Saxo Bank Group
GER40 cfd (DAX future) seems to get rejected at the 0.50 Fibonacci retracement level at around 14,084. Selling pressure is likely to resume. A selling pressure that will likely intensify if GER40cfd is being pushed below 13,273. If that scenario plays out new lows are likely. An early warning sign of that possible scenario is if RSI drop back below its trend line.
However, if GER40 trades above 14,100 a move to 0.618 retracement is likely but a move to 15K would not be out of the question. However, 14,830 is strong resistance
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Outrageous Predictions 2023: The War Economy
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UK holds UnBrexit referendumFollowing a recession and domestic pressure, the United Kingdom is thrown into political turmoil that will end with a vote to wind back Brexit.
Widespread price controls are introduced to cap official inflationHistory tells us that with the war economy comes rationing and price controls. And this time is no different, as policymakers introduce strict price controls that lead to a range of unintended consequences.
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