Sun, Nov 28, 2021 @ 09:08 GMT
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GER 40 Struggles For Support

The Dax 40 tumbles as lockdowns across Europe hurt sentiment.

The RSI’s overbought situation on the daily chart has made buyers cautious in pursuing high valuations. On the hourly chart, a bearish RSI divergence suggests a deceleration in the upward momentum.

Then a dip below 16200 confirms weakness in the rally, prompting leverage positions to liquidate. The psychological level of 16000 is a congestion area as it coincides with last August’s peak and the 20-day moving average. 16300 is now a fresh hurdle.

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