As mentioned in the long term chart the Dax will be about to make decisions for the next years soon. Here we will look more into the details.
The DAX ist still in an bullish mood. It held the resistance at the 10250 area and is above the trendline from the lows. The fight in the Fib (the small from ATH to crash low) was also won my the bulls. The only problem for now are the 2 candles (14th and 17th) that indicate a reversal patter. I still see the chance from an TA side that we would test it all the way up to 11750. there we find the golden retracement from the crash and a strong resistance zone from the past. By the time we find the DAX on that levels the indicators like (MACD and RSI) might show more clear that it will be hard to go above that level. To me not only hard, but close to impossible if we look at the fundamentals.
Scenario 2 is only indicated by the candles at the moment (plus another indicator that I use but I have to little experiance on it´s reliability). We find strong resistance zones, the Fib and the uptrend very close here. Be aware that it could go down very quickly if we break those!
To my own surprise I have to give the DAX a long rating at the moment. Keep in mind to work with thight stops. target would be 11740.
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Trendline broken. we will test the 10200-10300 area
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The arrows been a bit optimistic/pessimistic but the Lines did work :)
Still bearish over all but on the downside we have a lot of resists (horizontal, trendlines and Fibs
I have not very been active on TradingView in the past month. but this is just a tiny review on this Idea. Did you guys see how the supports and resists held? :) This Idea is CLOSED as it is not valid any more.
oisois
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Ok. I just had an Idea to make this a bit more fun. Everyone is invited to put his 1 quess for the Dax close on the 24th. The winner gets an chart of his wish analysed by the next weekend. :)