Dear traders,

I hope you have had a great trading week. I shared with you my thoughts on DAX last week.

I am currently still holding on to this trade and it looks like it has some more room to go.

The daily chart on DAX formed another bearish rejection or pin bar and it looks like there are more buyers joining this train.

The level of 12,000 looks like a possible resistance level.

US30 Dow Jones Trading Analysis

Today, I am also looking at the US stock market, or specifically Dow Jones.

It really moves in line with DAX and probably it is not a surprise for a lot that I am bullish on this instrument, too.

There was a pin bar on the daily chart.

The price has bounced off the minor demand zone as you can see from the screenshot.

There might be some of the power of this move lost along the way, so I would ideally want to see a confirmation from the 4H chart after open.

The level of 25,500 looks like a good level for the price to take a break.

Happy Sunday,

Colibri Trader