FxWirePro Call Review: Maintain short positions in DAX; interim targets added

After our previous short positions got stopped out as the bulls charged in April and as we revised the stop lower, we have recommended re-entering short positions last week at the then current rate of 12970 with the stop loss around 13650 area, https://www.econotimes.com/FxWirePro-DAX-GER30-enjoys-longest-weekly-Bull-Run-since-2015-but-that-might-change-soon-enter-short-positions-1327168

As the political turmoil grips the entire European Union with Italy heading towards a major showdown between local euro-skeptic populist parties and the bureaucrats of the European Union and Spain heading for a no-confidence vote against Prime Minister Mariano Rajoy this Friday, the call has been quite successful so far.

The call is well in the money as DAX/GER30 (CFD of DAX) is currently trading at 12660 (GER30) and based on our latest calculations, we would like to add the following interim targets,

Target 1: 12380

Target 2: 12100

Target 3: 11810

We recommend profit bookings to the tune of 10 percent at these interim targets. We, however, expect the DAX to drop to 11000 area and beyond.