DAX is following the monthly triangle pattern now going to test the higher pattern linen(Tl) so a resistance level for the time being, it depends upon how market reacts here as it is a rising tl ( dynamic) so new and higher level every month
will post possible monthly and weekly levels in the comment section
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testing a resistance level is not always a chance of big fall it is a possibility only ,price created many support levels during the movement , price might consolidate here being a rising tl, still close above the previous low , or might break it, so a caution point for me
its a rising wedge.. rising wedges are mostly bearish...
Divergencify
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small pullback or trend change, what's your thoughts?
omvats1
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@Divergencify, all the red lines are 12M levels DAX took resistance at the level , didn't analysed the Dax for almost a month these are levels plotted in Feb,needs more analysis to answer
Divergencify
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let me know. I think it will be choppy in behavior, my quess
Divergencify
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Great post, Sir please writee quick coment while you posting chart. Take care
eugenemrak
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what do you mean by your last comments? can not understand anything. The main theme is clear
omvats1
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@eugenemrak, its a tl which is holding the movement , if breached it will try to test higher