GER30 - After previous analysis Feb 2th, DAX was able to test 14131 the all-time high from January 7th and we reached the all-time high of February 8th, at 14169.
Bear scenario:
It is important for bulls that the price zone at 13860 not undercut on a weekly and daily basis. Should this price zone be undercut sustainably, the bears could continue to gain strength and push the bulls back down to 13718 then 13601.
Bull scenario:
If bulls succeed in exceed all time high at 14169 on a daily basis then the first target is at 14294 – 14382. If 14440 is exceeded on a weekly basis then DAX can rise to 14750 and then, after a short pullback, rise to 14970 – 15065.
A bear market is when a market typically fall 20% or more from recent highs.
If we break resistance it become support If we break support it become resistance. Buy and Sell confirmation: Bull market don’t buy if the RSI is overbought always wait for pullback. Bear market only sell when the RSI is overbought or wait for a bounce.
Keep it simple and trade with the trend – you will never lose and live 10 years longer!
Bear scenario:
It is important for bulls that the price zone at 13860 not undercut on a weekly and daily basis. Should this price zone be undercut sustainably, the bears could continue to gain strength and push the bulls back down to 13718 then 13601.
Bull scenario:
If bulls succeed in exceed all time high at 14169 on a daily basis then the first target is at 14294 – 14382. If 14440 is exceeded on a weekly basis then DAX can rise to 14750 and then, after a short pullback, rise to 14970 – 15065.
A bear market is when a market typically fall 20% or more from recent highs.
If we break resistance it become support If we break support it become resistance. Buy and Sell confirmation: Bull market don’t buy if the RSI is overbought always wait for pullback. Bear market only sell when the RSI is overbought or wait for a bounce.
Keep it simple and trade with the trend – you will never lose and live 10 years longer!
Germany30 and S&P500 Intraday analysis August 23rd. and weekly update 34. Posted at twitter: twitter.com/SP500_Dow
