DAX 40: 25,000 Cracks Overnight - Sellers Gathering at 24,840Germany 40TRADENATION:DE40BazemtraderWhile Europe slept, the world got louder. Iran shut the Strait of Hormuz, Washington answered with strikes, oil ripped 9% higher - and the DAX quietly gave back 25,000 in the overnight session. This morning's cash open delivered the verdict: no reclaim. Price is trading in the 24,900s and sellers are gathering at the last floor standing. ONE STRAIT, ONE FLOOR Roughly 20% of the world's oil moves through Hormuz - that is why a closed strait shows up in Frankfurt within hours. 25,000 survived four tests last week; the fifth came at 2 AM with nobody at the desk, and the open confirmed it: the round number is now the ceiling. Below sits 24,840, last Wednesday's drop low - the make-or-break. Above, 25,200 (the July 2 breakout shelf) is still the level that flips this structure bullish. THE TRADE Short on a 1H close below 24,840, stop above 25,000, target 24,636. Between 24,840 and 25,000 I do nothing - that pocket is where stops get eaten. If the market reclaims 25,000 and holds it, I stand aside. No trade is also a position. WHERE I'M WRONG Back above 25,200 and the top-out call is dead. No shame in that. A BREAK AT 2 AM IS A CLAIM - DAYLIGHT IS THE VERDICT Thin overnight liquidity breaks levels that the open sometimes takes straight back. That is why this idea waited for the cash open: the first thing Frankfurt did was sell the bounce. When fresh sellers show up in daylight to defend an overnight break, the break is real. This zooms into the floor from my daily map, "DAX: Back Above 25,000 After a 1,060-Point Dive". (https://www.tradingview.com/chart/DE40/wfKYnm9C-DAX-Back-Above-25-000-After-a-1-060-Point-Dive/) I will update this idea as the levels get tested.