Hello, according to my analysis I think the dax well go up hey some treatment but it was still go up for the rest of the month. As of right now the market is healing so expect some (buy) opportunities.
Remember happy trading.
The DAX managed to pull back, as anticipated through rotations at the top of a structure area it failed to break above into its all-time high and into a new high after several attempts and the downside was expected. We had 2 levels identified as potential targets, the first being the cluster of support that was mapped out based on where the price started its rally...
Possible Head and Shoulder formation on the GER30 Daily Chart. await a pull back then jump in for profit. Target is the vertical blue line; measured from tip of the head up to the resistance level.
Possible huge retrace after mysterious sell from top.
Based on RSI H1 D1 oversold cycle.
TP at 11.300 for the next target.
Possible retrace in Dow30 also needed. Dow20 ist almost also oversold.
We also could get a nice rally for 2019 as always in the early months of the year.
Why?
-RSI
-Strong Economy
-Closing economy war US/CHINA
-Closing Brexit
Good opportunity to Buy.
This week the price is to start rising. It has created plenty of room for the upside and is near its lower channel on bigger Weekly and Monthly charts. We can see a very big move from around here up to around 13800-14000. However, move can be not very sharp and take some time to reach that level. So Buy with longer term perspective as...
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Have a great day everyone!
