20813

Dax weekly recap and outlook

FX:GER30   DAX index of German listed shares
71 0 1
Recap:
  • 5th Wave is finished
  • possible abc retracment in place with low on 20ema weekly and 61.8% fibonacci (not shown in chart)
  • bullflag on weekly
  • small buy divergence on macd
  • macd fastline about to cross zero line
  • macd slow line turning up
  • adx falling near 15
  • bullish reversal candle on weekly

Outlook:
  • break above bullflag should lead price to high volume node resistance
  • a break above b could be a confirmation of abc pattern and lead to new highs or at least a test of the last high
  • rejection from bullflag should lead to a test of the last low
  • a break below last low should lead to the retracement area of wave 1 & 2 wich is around 50% fibonnacci
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