Update to my former analyis: Here we go: 10850! This is the new Level to watch!
With a Close higher than 10.850 we will perhaps see a Rebound to 11.030/11.090. (red "3?")
A Close under 10.850 (EMA 200) will generate a shortterm-target @ 10.400-10.600 or worst case 10.000.
-11.250 is the make or break-Level to watch: Prices higher than that Level will generate a target at the downtrenduppersid @ 11.450 (orange "3?")
Update to my former Analysis www.tradingview.com/...ER-30-IN-THE-ABYSS/:
The last shortterm-support @ 11250 turned into a resistance. 3 red days followed.
Yesterday i updated my analysis and answered jimmy_honkong, that a rebound back to the level @ 11250 would be possible. Today we saw huge buyers in the market and the dax closed @ 11.265,39.
But what were the signals i saw to make me think that the index will get a rebound?
1. The downdrop ended exactly at his 38,2 Fibo-Retracement (8352-12405) @ 10.859 points.
2. The Dax closed two days in a row out of his BB`s. Thats really unusual for the german main index. That signalized me, that the situation is very oversold and a rebound is possible.
3. The level @ 10860 is similar to the downside of the middleterm-downtrend
jimmy_honkongs 2. question: My second question is, why do you think it will stop at 11250 but not higher?
- 11.250 is similar to the 38,2 fibo-retracement of the downmove 11920-10861. This level is the minimal correction level. Now it is also possible, thet the correction wave will go further to the next higher fibo-levels 50% / 61,8%. The normal and maximal targets with this fibo-vies are @ 11391/11512.
The max.target of the 61,8% fibo is similar to the longterm-up-trend and middle-term-down-trend.
If the Dax could make prices higher than 11620, the long-term-trend will be en vogue again. Than the next target would be @ 11921.
IMO Dax can`t break this level. My favorite target is on the daownside @ 1.0400-10.600
Former analysis: (www.tradingview.com/...s-Ger-30-am-Abgrund/)
Ger 30 in the abyss
The long term trend since Oct 14 has to be discussed.
Dax is close to his last shortterm- support at 11250. This is the level to watch. Prices higher than this Level will establish the Support and will turn the short-term situation into neutral -bullish. If 11250 turns into a restistance, he could drop to 10250-10500. This Level is similar to the Fibo 50.
Prices higher than 12.000 will turn the Chart into bullish.
Prices in the Tradingbox between 11250-12000 are neutral. sis:
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.
With a Close higher than 10.850 we will perhaps see a Rebound to 11.030/11.090. (red "3?")
A Close under 10.850 (EMA 200) will generate a shortterm-target @ 10.400-10.600 or worst case 10.000.
-11.250 is the make or break-Level to watch: Prices higher than that Level will generate a target at the downtrenduppersid @ 11.450 (orange "3?")
Update to my former Analysis www.tradingview.com/...ER-30-IN-THE-ABYSS/:
The last shortterm-support @ 11250 turned into a resistance. 3 red days followed.
Yesterday i updated my analysis and answered jimmy_honkong, that a rebound back to the level @ 11250 would be possible. Today we saw huge buyers in the market and the dax closed @ 11.265,39.
But what were the signals i saw to make me think that the index will get a rebound?
1. The downdrop ended exactly at his 38,2 Fibo-Retracement (8352-12405) @ 10.859 points.
2. The Dax closed two days in a row out of his BB`s. Thats really unusual for the german main index. That signalized me, that the situation is very oversold and a rebound is possible.
3. The level @ 10860 is similar to the downside of the middleterm-downtrend
jimmy_honkongs 2. question: My second question is, why do you think it will stop at 11250 but not higher?
- 11.250 is similar to the 38,2 fibo-retracement of the downmove 11920-10861. This level is the minimal correction level. Now it is also possible, thet the correction wave will go further to the next higher fibo-levels 50% / 61,8%. The normal and maximal targets with this fibo-vies are @ 11391/11512.
The max.target of the 61,8% fibo is similar to the longterm-up-trend and middle-term-down-trend.
If the Dax could make prices higher than 11620, the long-term-trend will be en vogue again. Than the next target would be @ 11921.
IMO Dax can`t break this level. My favorite target is on the daownside @ 1.0400-10.600
Former analysis: (www.tradingview.com/...s-Ger-30-am-Abgrund/)
Ger 30 in the abyss
The long term trend since Oct 14 has to be discussed.
Dax is close to his last shortterm- support at 11250. This is the level to watch. Prices higher than this Level will establish the Support and will turn the short-term situation into neutral -bullish. If 11250 turns into a restistance, he could drop to 10250-10500. This Level is similar to the Fibo 50.
Prices higher than 12.000 will turn the Chart into bullish.
Prices in the Tradingbox between 11250-12000 are neutral. sis:
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.
