DAX (DE40) just entered its 7-month Higher Highs Zone, which has been the technical Resistance of a long-term Ascending Triangle that started on the May 27 2025 High.
With the 1D RSI overbought (above 70.00), the conditions for a new medium-term sell opportunity have emerged. All previous five Bearish Legs of this Triangle have been fairly symmetrical, with the lowest being -5.07%.
We expect at least a repeat of that, which gives us a 24100 Target that may coincide with a 1D MA200 (orange trend-line) and 1W MA50 (red trend-line) test. The latter is the market's long-term Support and will decide the trend for 2026.
If the 1D RSI hits 40.00 though before the price hits 24100, we will take profit on the sell regardless, as that has been the RSI's Symmetrical Support for the entirety of the Ascending Triangle.
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With the 1D RSI overbought (above 70.00), the conditions for a new medium-term sell opportunity have emerged. All previous five Bearish Legs of this Triangle have been fairly symmetrical, with the lowest being -5.07%.
We expect at least a repeat of that, which gives us a 24100 Target that may coincide with a 1D MA200 (orange trend-line) and 1W MA50 (red trend-line) test. The latter is the market's long-term Support and will decide the trend for 2026.
If the 1D RSI hits 40.00 though before the price hits 24100, we will take profit on the sell regardless, as that has been the RSI's Symmetrical Support for the entirety of the Ascending Triangle.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔥Automate my TradingView strategies with OneBullEx 🤖 Professional crypto bots • Risk-managed • No emotions 👉 Trade smarter on OneBullEx using my link: rebrand.ly/7b3792
For my Account Management & Signal services👉 rebrand.ly/azr2wfo
For my Account Management & Signal services👉 rebrand.ly/azr2wfo
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.