German DAX vis-a-vis the post war downtrend line (Aug 16, 2022)

The European leading index is now facing chart resistance defined by the local highs of the current year. It is the shorts who need to show strength now, otherwise the bull rally will overcome another obstacle as everything goes.

Disclaimer> This post is purely informational. It does not constitute a trading or investment advice. Financial markets are inherently risky. Honor your own risk management decisions.