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Short

DAX is approaching resistance, potential drop

XETR:DAX   DAX Index
DAX             is approaching our first resistance at 11867.54 (horizontal overlap resistance, 100%, 61.8% Fibonacci extension , 38.2% Fibonacci retracement ) where a strong drop might occur below this level pushing price down to our first support (horizontal swing low support, 100% Fibonacci extension ).
Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price.
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On the medium term if this 4H Channel Up crosses 11,800, the bullish bias are restored. We are targeting 12,000 and 12,100:

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