DAX hit today the bottom of the short term Channel Up. This is inside a larger Channel Up pattern that started during last year's market bottom.
As long as it holds, especially the 1day MA100, buy and target 16600 on a +6.34% repetition of the first short term Channel Up rally.
If the price closes under the 1day MA100, sell and target the bottom of the long term Channel Up at 15150.
The 1day RSI, trading inside a Channel Down, gives a clear indication as to when that low may be achieved.
Previous chart:
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As long as it holds, especially the 1day MA100, buy and target 16600 on a +6.34% repetition of the first short term Channel Up rally.
If the price closes under the 1day MA100, sell and target the bottom of the long term Channel Up at 15150.
The 1day RSI, trading inside a Channel Down, gives a clear indication as to when that low may be achieved.
Previous chart:
Follow us, like the idea and leave a comment below!!
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