FxWirePro Call Review: Maintain short positions in DAX; target extended to 10200

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 in the last week of May 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

The call has been quite profitable with GER30 (CFD of DAX) trading at 11560 area, as stricter trade rules in the United States, higher payment for NATO countries and domestic political trouble rising from rampant immigration favor our outlook in DAX. In addition to that, the recent selloff in the global stock markets also suggests that the call is in the right direction, as trouble from higher rates continues to mount.

Several of our interim targets have been reached; 12380, 12100, 11810, 11500 and two more targets are yet to be reached; 11500 &11000 area.

As our outlook remains negative against the DAX, we would like to urge readers to maintain short positions with an extended target of 10200 area.