Kaetea_Ng

DAX- approaching a significant trend line

XETR:DAX   DAX Index
DAX has formed a descending wedge on the daily chart . Reversal points are indicated by the arrows. Now, as the DAX approaches the trend line resistance, we're prepared for two outcomes.

Reversal or Breakout?

In either cases, we will wait for a confirmation on the lower timeframes.

Minor S&R levels (dotted lines) indicate, how price will likely behave, no matter, which direction the market decides to go.
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We believe that since 11800 was the completion of the 1W H&S, DAX will break into a new long term uptrend continuation on the monthly:

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IMHO we should bounce back down and keep that falling wedge much longer
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