DOW JONES

Dow is holding under fresh record high, posted on 14 Nov, after steep post-US election rally. Near-term price action is for now congested within narrow range, with further upside being favored on firmly bullish daily technicals and 09 Nov bullish daily candle with very long tail that continues to strongly underpin the action.
However, initial signals of fatigue started to appear. Recent double-Doji candles and rejection on repeated attack at fresh 18917 peak, along with overbought daily RSI and Slow Stochastic, could signal correction of recent strong ascend.
No firm bearish signals have been generated so far that suggests further consolidation in the near-term. Markets are awaiting further confirmations about US interest rate hike, to spark fresh moves.
Break above new record high at 18917 could drive the price towards Fibonacci 138.2% and 161.8% projections at 19082 and 19365 respectively.
Conversely, fresh weakness below near-term consolidation floor at 18756, would generate bearish signal.
Low of 11 Nov at 18683 marks next support, ahead of 18563 (Fibo 23.6% of 17419/18917 rally).

Res: 18869; 18917; 19082; 19356
Sup: 18826; 18756; 18683; 18563

DAX
Dax remains in red for the second day, following repeated failure at 10796 (post US election rally’s high) that triggered fresh acceleration lower. Yesterday’s long red candle weighs on near-term structure, however, the price has so far found footstep at 10600 (lows of Wednesday / today) which also marks the upper boundary of strong support zone, consisting of several daily MA’s (10; 20; 30; 55) that also formed multiple bull-crosses.
Dips should be ideally contained at 10600/10555 zone to keep in play near-term bulls that are strongly underpinned by very long bullish daily candle of 09 Nov.
Caution on bearish signal generated on Slow Stochastic reversal from overbought zone. Extended dips would be allowed to 18500 (Fibo 38.2% of 10020/107965 rally, to keep bulls unharmed.
Conversely, firm break below 18500 handle would generate stronger bearish signal for extended correction.

Res: 10678; 10715; 10779; 10796
Sup: 10600; 10555; 10500; 10413

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