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Timonrosso
Jan 13, 2023 8:48 PM

DAX on its way to our first target  Long

DAX IndexXETR

Description

DAX formed a Massive Falling wedge in 2022.
Remember a Falling Wedge is >1 month... A Pennant is < 1 Month
The 7 >21 >200MA and the RSI is well above 50 showing upside to come.
The target remains at 16,375
HOLD - BULLISH\

The January Effect where investors and institutions are still buying stocks and assets to start the year. They have offset their taxes and are now piling into the markets that they believe will run up.
Hence the global rally.
Also, Inflation seems to have hit its peak for now (with America CPI dropping to 6.5% this week). These are all good factors for a strong economy.
Comments
volnovikpro
An alternative scenario.
Retest 14000
Then a rise to 15,500 then a fall of 9-11000
behdadtrader7137
I think tomorrow, DXY will rise, then Gold will drop and S&P will fall too and then all dependent stock market like DAX will fall and also BTC
Divergencify
How about this rsi divergance?
Timonrosso
@Divergencify, Broken above the bearish divergence which confirms upward momentum.
Divergencify
ok, let's see. U are probably right, take care
JoeChampion
Brilliant view buddy!
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