Good opportunity to go long after breaking the nick line, target one is the measurement of last shoulder to the nick line and target 2 is the normal objective of H&S pattern.
Since February, GER30 has tried to cross the demand zone, however after multiple attempts, we haven't seen a major correction, just a series of up's and downs. This time, it has aggressively went down almost touching the demand zone but it is now approaching another important support line which has been in a bullish tendency since November 2013.
This week DAX is bouncing between 9800 zone and 9600 zone. 9600 is a strong resistance level this year. So we have to break this 9600 zone and shortterm trendline before DAX get further down. If DAX breakout at the upside we can go up to level 9900. I am looking forward or DAX make a SHS pattern. So short under 9600 and long when breakout at 9800
Please give your thoughts on which way you feel it may go I feel it it could go to 0.618(9816) and then drop but also it could go to 1.618(9573) what you think?
Today Dax is down to it's first support zone 9880. Last 4 weeks Dax is consolidating in a 155 points zone. For the 5th time we get in the 9880 zone. From here there are 2 options. Support maintain and DAX go futher upside again (10050 top). Other option is a break from the short trendline and 9880 supportline. This brings DAX to next support level 9800. There is...
Well, the normal adage of a normal market trade says " sell in May come back in September." For those who are short since May it may have been a catastrophe. Having said that, The market is facing a normal and regular correction. This correction may last until 9400 or 9200. Bellow that level, it may very much slip bellow 8950. Furthermore, the money is still...
Hope we get a re-test of highs in the near term. I am ready to enter short at the highlighted area. Let us see... Petr