DAX: Sell opportunity within the Megaphone.

DAX has been trading within a 1D Megaphone pattern ( RSI = 55.442, MACD = 76.600, Highs/Lows = 0.0000) since November 6th . This week the price was rejected on the Higher High zone and is still on the decline towards the 13,176 Pivot line which is also where the MA50 on the 4H chart is. This is a possible Support level .

If this level breaks however, we are expecting a full decline sequence towards (possibly) a new Lower Low. The 4H chart also provides a strong sell signal with the bearish cross on the MACD . If the pivot is crossed our Target Zone is 12,950 - 12,885.

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