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Long

Update: New midterm-longsignal above 9775

FX:GER30   DAX Index
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 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



red vs. green counting..in 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.
Comment:
Comment:
Think you mean "Breaking through the resistance Level 10.750-10.800 ", not 11.750 - 11.800
Great analysis
Reply
yes, for sure..sorry and thx !
Reply
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
Reply
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