DAX Hit the 4H MA200 for the first time in +1 month.

DAX (FDAX1!) hit today the 4H MA200 (orange trend-line) for the first time since September 14. This is still technically a short-term bullish reaction (Channel Up) within two longer term bearish structures (Bearish Megaphone with the dashed lines and Falling Wedge o a broader frame). With the 4H RSI approaching its Resistance Zone, it is not unlikely to see a rejection by tomorrow back to the 4H MA50 (blue trend-line).

We have accurately laid out this information on our previous DAX analysis 10 days ago:


Basically as it happened from July 19 to August 12, we may see continuous pull-backs on that Zone as the price breaks the Bearish Megaphone to test the top of the Falling Wedge. On the long-term only a closing above the 1D MA200 (red trend-line), which is untested since February 02, can be enough to change the trend from bearish to bullish.



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