TRADEPROAcademy

DAX continues to show strength, upside to 13800

Long
XETR:DAX   DAX Index
Equity markets have been hitting all-time highs day after day throughout the world throughout the holidays. While the DAX has been somewhat of a lagger and has the potential to break into new highs and beyond based on structure, volume and more.
So far over the holiday season has held up the structure on DAX well suggesting more upside, a new temporary high was hit at 13400 before a slight fail. We could see price into the 13050 level where the impulse started for the next press higher. The support level was rejected well by buyers that came in, so the next move is into the all-time high around 13600. The drops were on weak volume for the retraces, while each rally higher was on strong volume . The bulls have this in the bag and as long economic expansion continues throughout the world then the DAX will strengthen to catch up.

As long as price doesn't break through the support structure on the medium term at 13050 the bull side is the right side, below that level, 12900 has to hold support.

This idea is for educational purposes only, this does not constitute as trading or investment advice. TRADEPRO Academy is not responsible for any market activity.

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Thanks it's very helpful
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