From the previous trade analysis on DAX, it hit our target of 16,333.
This was due to a Falling Wedge along with a Reverse Cup and Handle pattern.
Since then, the price has moved into a consolidation period where the price was fighting between the bulls and bears.
And guess who is winning? The bulls again.
There has been a smaller pattern form called a Rounding Bottom or a Scallop formation.
Now that the price has broken above the neckline, means we can expect upside to come to the next target.
Other indicators confirm upside momentum including:
7>21>200
RSI>50
My next target will be up to 18,792
This was due to a Falling Wedge along with a Reverse Cup and Handle pattern.
Since then, the price has moved into a consolidation period where the price was fighting between the bulls and bears.
And guess who is winning? The bulls again.
There has been a smaller pattern form called a Rounding Bottom or a Scallop formation.
Now that the price has broken above the neckline, means we can expect upside to come to the next target.
Other indicators confirm upside momentum including:
7>21>200
RSI>50
My next target will be up to 18,792
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
www.facebook.com/groups/matitrader
🌐Website:
www.timonandmati.com
💰FREE Discord:
discord.gg/c8f37kyv35
Twitter:
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)