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German DAX Likely Continue Recovery Rally

German DAX Likely Continue Recovery Rally

David Rodriguez, Head of Product
German DAX Likely Continue Recovery Rally

Why and how do we use the SSI in trading? View our video and download the free indicator here

German DAX– Retail traders have recently turned net-short the GER30, which tracks the German DAX, and a contrarian view of ‘crowd’ sentiment leaves us in favor of buying into DAX gains. Indeed this represents a substantive shift from last week when the majority of open GER30 positions were long.

Given recent price momentum and the key change in crowd behavior, our forecast calls for further German DAX rallies. Only an aggressive sentiment swing in the opposite direction would change our short-term trading bias.

See next currency section: S&P - S&P 500 Looks to Rally even Further

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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Contact David via Twitter at http://www.twitter.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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