DAX flirting with the oil price, finding way to escape bottom



DAX suddenly got support from the oil price to recover from as low as 9133.4, to close at 9327.7, down 2.1% compared to the opening price. In the weekly chart, the price is hovering around the open of the week, reluctant to continue last week’s rally. However, the support from the crude oil price after U.S. oil stock data wouldn’t last long, the benchmark will retest the support of 9254.0, established on January 20, before edging up higher.

Sell at 9334.0 with Stop Loss 9364.0 and Take Profit at 9234.0

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