Key reversal in the Dax Index...

U

Ubertrader

Could anyone please tell me if todays action in the Dax Index constitutes a key reversal?

Open was the same as yesterdays close, we then made a higher high before closing below yesterdays low.....is this correct?

regards
 
that would consistitute as a reversal

watch the price action tomorrow as well

How is the volume?

If rally and low volume, that is a great sign, to look for an entry

If continued selling, that is also fine, but risky to enter
 
The volume was good today...the 3 highest volume days of the last 10 days have all been on sell-offs.
I expect a small bounce tomorrow but will sell into it.

Thanks
 
OK, I got a PM saying that it wasn't a key reversal (because the open was not above the previous days high, only level with the previous close) but a reversal never the less...

new question...only on the dax index (not the futures chart) is this now an island cluster?
we saw the gap on the way up (May 4/5) and now we have the same gap (may11/12) on the way down....I am told this is also a powerful reversal signal.

Thanks
 
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