DAX: 1H Rising Wedge with clear targets

DAX is trading inside a Rising Wedge on the 1H time-frame with the price making a Higher High by breaking above yesterday's High/ Resistance on healthy 4H technicals (RSI = 56.980, MACD = 66.900, ADX = 28.300). Despite the overbought 1D RSI, as long as this Rising Wedge is maintained, DAX should target the 14,710 Resistance (June 6th High). If the 1H MA50 (blue) and the Rising Wedge break downwards, the 4H MA50 is the first line of Support (14,277) but most likely we will see a test of the 14,145 - 14,170 Support Zone, which is near the bottom of the November Channel Up. This is where the 1H MA200 (orange) is.

If it breaks, we turn bearish on the medium term, aiming at the 13,600 Support. If the 14,710 Resistance breaks, we remain bullish, targeting the 14,940 Resistance (March 29th High).



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