Invezted

DAX Analysis 19.08.2015 (US session)

FX:GER30   DAX index of German listed shares
52 0 0
http://www.invezted.com

Context:
after topping out at 12400 we are in a decline contained within a down channel

Location:
price formed a range with support at 10795ish and resistance beeing 11820ish just shy
of the 50% retracement of the previous rally at 10365, we currently reside at the support level of 10795

Price Action:
after a drop near the resistance level of 11820ish which resulted in a lower high we
formed another minor range between support 10905ish and resistance 11123ish
Price broke the support level and is currently on a decline towards the lows at 10660

Conclusion:
a minor intraday play towards the lows at 10660 on the short side could be played
however it is best to wait either for a retest of the broken support level at 10900
if one is looking for a short , and on the longside one should wait till 10365

support:
10660
10580
10365

resistance:
10905
11000
11120
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out