InvestingScope

DAX: Channel Up with the 4H MA50 supporting.

Long
EUREX:FDAX1!   DAX FUTURES
DAX has been trading within a wide Rising Wedge but since the July 31st low, the index has entered into a smaller Channel Up on the 4H chart ( RSI = 53.592, MACD = 30.100, ADX = 25.048). As long as the 4H MA50 supports, the pattern resembles the July Channel Up that topped on the 13,300 High.

We are expecting a typucal +4.70% leg towards 13,300 - 13,400 which is our Target Zone.



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