Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
Technical Analyst, Saxo Bank
The GER40 cfd/DAX future has formed three Doji’s in a row i.e., indecisive market. If GER40 forms a negative candle today with a close below 14,122 this formation should be considered a top and reversal pattern. A reversal that can take GER40 down to 13,570-13,435.
If GER40 closes above 14,442 the reversal pattern is demolished and GER40 is likely to move to 14,710 is needed. With RSI not showing divergence this is greater upside risk than if there was RSI divergence.