DE30 Index completed the reverse head&shoulders formation and now going for the target of this formation.
13230 is the last target for this movement. After that we have to watch carefully if it can break the resistance of 13230. This resistance is coming from May 2018, it tested two times but couldn't break.
My probable scenario is to bounce back from the resistance and start a downtrend for some time. RSI is alsogetting tired in weekly chart.
Less possible scenario is to break the resistance at 13230 and test the ATH 13617(all time high)
13230 is the last target for this movement. After that we have to watch carefully if it can break the resistance of 13230. This resistance is coming from May 2018, it tested two times but couldn't break.
My probable scenario is to bounce back from the resistance and start a downtrend for some time. RSI is alsogetting tired in weekly chart.
Less possible scenario is to break the resistance at 13230 and test the ATH 13617(all time high)
Trade closed: stop reached