TradingTechs

DAX possible setup

OANDA:DE30EUR   Germany 30
The DAX             has been sitting in a tight range ever since the US election building up pressure in the process. It's been hinting on a move higher (broke, retested and continued upwards of the longer term bearish trendline ; big swing failure on US election) for some time now and had the perfect chance when the US equities rallied to record highs. The fact that it didn't perform as well has made us very weary however the technical structure still looks like it will blast through upwards. Something to keep an eye out for.
Comment: DAX approaching long term resistance
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Comment: DAX breakout as discussed. A bullish close should see us holding higher
Comment: Next level of interest is the 61.8% Fib coming in at the 10980 area
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Comment: Dax hit the Fib as discussed above
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