Chapter 2 Dax retracing into the middle of the leg pre ECB
The Dax this morning has tested our upper resistance area around 13000 and is looking like it wants to go into the ECB interest rate decision and press conference some where in the middle of the range.
Any price action which rest in the middle of a trend is a harder type of trade. You can get chopped up so very easily.
We will, of course have go volatility to come and depending on the tone of comments out of the press conference increased hawkishness would be priced in lower on the Dax.
Bulls need to hold the 12700 area and bears will find a bunch of untested resistance areas just above our intraday high.
It's gonna be interesting!
