Update: New midterm-longsignal above 9775

FX:GER30   DAX index of German listed shares
304 3 22
Dax             decided to break the downtrend - so the green counting is the dominant one, the red counting is history.
Breaking through the resistance Level 11.750-11.800 (mangenat "2") opens the way to a new high @ 10.930/ 11.111 and 11.400

Regards Mary

Comments and other views are Welcome -Agree or Disagree!

Former View:
DAX             reached Action Point!
DAX reached Action Point!

Dax             reached the falling trendline which is valid since 21.04.2016. For me, thats an Action Point where a desicion has to be made. An upcoming consolidation is thinkable at that Level (possible tp on the downside is - as always - the 38,2 fibo) , but not neccesary. The RSI signs further up-potential in the daily Chart - there is still a bullish momentum - every dip was bought these days.
If DAX             could beat the midterm downtrend since April, the BIG Downtrend can be aimed!
Beating this longterm downtrend means a resumption of the maitrend - a Long Lasting bullmarket since 2008.

Main View:
New midterm-longsignal above 9775

New midterm-longsignal above 9775

red vs. green my Chart i have illustrated the present resistance and support zones.
If Dax             could overcome the resistance @ 9775 , a shortterm longsignal with tp @ 9.950 appears. The following TP could be 10.350.
Above 10.350-10.450 the midterm downtrend will break - that will generate midterm/longterm Targets @ 11.300/11.750/12.300
Above 12.350 there would be a BIG LONGSIGNAL --> TP 13.700!
If Dax             is trading below the last green "3" respective the last red "2" i exspect a sellof with tp @ 7.250.
Hi Mary
Today The wall street is close , today trade will be slow

German Composite PMI (Aug) 53.3
German Services PMI (Aug) 51.7
below the Forecast
May retest 10650 before break 10750
Think you mean "Breaking through the resistance Level 10.750-10.800 ", not 11.750 - 11.800
Great analysis
MaryJane Marz14n
yes, for sure..sorry and thx !
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