Channel support in focus on the DAX

FX:GER30   DAX Index
620 11 7
The German DAX index             is hitting fresh 6-month lows this morning, but we may see prices start to rebound if 11,400 holds in the next couple of days. There is a channel support at around 11,420 plus the January 27th low at 10,550 to be watched closely today and tomorrow. Given the longer-term uptrend and significant rally at the start of the year, I'm inclined to think that a major market low around these levels would give way to a new leg back above 11,500 over time. Anyone who believes that the DAX             is currently in a bullish flag formation would agree with this reasoning.

While it's too early to say if my support area will hold, I would be actively seeking bullish hints in price action with reversal candlestick patterns to establish a real bullish stance on the DAX             .
i do know top is around the corner
a little lower
neckline of IHS
You're probably right about how prices will dip lower before stabilizing
jangseohee AdrianRaymondFX
plus minus
because S/R level is NEVER a single line
trade well buddy ^_^
That's why I gave a zone in my original idea. But the lack of bullish price action leads me to think that it's still too high.
jangseohee AdrianRaymondFX
Today's close is at 10,427 with hardly any wick at all. Tomorrow we'll have to see a sharp rally at the beginning of the European session with a close near the highs of the day for this trading idea to be executable.
3 rd leg of C wave down hold on tightly
bon jour... what seems to be the caused of GER30 being bearish this week? any prediction if when will its going to start bullish
bonjour adrian - je suppose que tu es de retour dans ta partie natale. Bonne suite a toi - Launell
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