DAX: Inverse Head & Shoulders into Channel Up long opportunity.

DAX is trading inside a Channel Up pattern on 4H ( RSI = 57.000, MACD = 49.100, Highs/Lows = 0.0000) which is an extension of the 1D Inverse Head and Shoulders ( RSI = 53.511) formation that bottomed at 11,270 in mid August.

The 11,990 Higher High is symmetrical on the Inv . H&S as was 11,850 before that. This indicates strong bias towards making another symmetrical reach near 12,250 on the next Higher High. The 4H MA50 has to provide support during this run. We are long, TP = 12,200.

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Fantastic channel and long analysis.
+2 Reply
InvestingScope Bullandbeartrading
@Bullandbeartrading, Not that of a long term. More like medium term approach. But thank you for the compliments.
Interesting view on situation +1
+3 Reply
@investeer, Thank you.
+1 Reply
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