DAX is rebounding after approaching two key pressure levels: the 1D MA200 (orange trend-line) and the 15040 Support (1). Last time the price rebounded on the level, it topped at 16,030 (current Resistance) after consolidated within a mini Bull Flag around the 1D MA50 (blue trend-line). The Flag signal is the MACD Bullish Cross so keep an eye.
The medium-term target is naturally the Resistance, while on the long-term a price range within 16250 - 16400 as every previous Higher High since June has been near the 1.382 Fibonacci extension.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
Thank you for the post.
I have a little question. What is the difference between DAX 40 (DE40) - which is shown here, and DAX itself? Because their charts look different.
I have a little question. What is the difference between DAX 40 (DE40) - which is shown here, and DAX itself? Because their charts look different.